Tuesday, January 03, 2006

First Trade of 2006

So, I initiated my first trading position for 2006. I grabbed a block of Broadcom (BRCM) today at 47.45. Will be watching closely. Will get out for a loss at 46 or so, if it comes to that.

Anyway, the stock market caught a nice break after the release of the Fed's meeting minutes suggesting that the rate hikes are almost over. If the markets continue to move sharply, I will be selling covered calls on some longer-term holdings and possibly unloading some of the positions in the Trading Portfolio.

2006 is off to a good start. Happy trading to all of you.

I am hearing that my buddy, Spud, might be entering the game soon. Sounds like he's a bit bearish and looking to short. I'll let you all know when he makes a move.

No comments: