Friday, December 24, 2010

Weekly Digest - Week of 12/20/10

Market Performance

Sector Performance
Another week over = another week moving higher.  At least that has been the attitude of the market for the last 4 weeks in a row.  This week the S&P moved up over 1% and claimed some very important price levels.  Monday started out by taking over the 1246 level which we've had some resistance at.  Market has seen a decrease in volume this week with the holidays around the corner and a short week this week.  Dip buying has still been strong and the bears are still feeling the pain.

Trading was light for me this week as I wasn't to eager to open new positions with light volume and the holiday season.  CX saw a great breakout during the week so I went ahead and closed that for a 7% gain.  I also closed SYK for a 1.5% gain after it was showing some weakness.  Instead of going long or letting my  money just sit there I decided to short NFLX puts.  This gave me a worry free way to utilize my money over the holiday season.

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