Back from vacation, here are some quick charts

I didn’t trade much this last week, basically only adding a couple more SPY puts as the rally continues. I’m still convinced we’re in a bear rally, and my views of the charts above all reflect that. I actually did try a couple of times to sell out-of-the-money covered calls on some of my gold and silver mining stocks, but my prices never hit. I’d rather keep the upside in case we see a significant rally here than sell covered calls too cheap. Uranium doesn’t have that problem because a lot of the investors in the sector are crazy bullish, and for good reason, but there’s simply a lot more fear than excitement when it comes to precious metals at the moment.

Anyway, that’s all for now. I had a great time exploring Minneapolis and Duluth with some family – a solid group of 7 – so I didn’t follow much finance stuff this week. It’s good to take a break from time to time, and usually you don’t miss much; investing is a patience game the majority of the time.

About johnonstocks

I've been trading stocks since 2003, active on Motley Fool's discussion boards and using first Hidden Gems, then Global Gains. I no longer have the newsletters, but I keep up on the WSJ and read David Rosenberg everyday at gluskinsheff.com. Education: CFA level 2 candidate MBA-focus in Finance, Marshall, University of Southern California - expected Dec 2010. BS Mechanical Engineering, UC San Diego, June 2002
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