As NG indicates (and I really appreciate his insightful commentary) it is a strange market. The HMO's today turned out to be like the banks---the news has been so dire that there was only one place to go: UP! It's constructive to take note of that.
Though I had been watching them, I passed on taking a position. Costco disappointed today. I was looking at both COST and BJ and thought they looked toppy just a couple of days ago. No action. I'm not doing a CWS (c/w/shoulda). But I did look. I've written in some space that I thought that the big ticket items at these wharehouse clubs, which you know is where they have the most margin, would likely get squeezed. Plus, there is a fair amount of dissembling, if you will, in the reporting of their numbers by the media--largely because gas sales are huge and we know what the price of gas has done.
I bought some GE AUG $30 calls today for .20 they went as high as .38 today. My Sept 35 calls are about a nickel, though I paid about $1.19 or them. It was my attempt to have some long exposure. HAH! DUG calls turned green, but on a net, net basis, my DIG position hurt. I'm still higher than I was at the beginning of the year but....(winsome thoughts).
My spec account is all cash. I've just let it sit. It's at $16.5K. Went as high as $23.5K Buit I started with $5 -7K so that's okay. I'll wait until I have a realy good idea! I don't know if I mentioned that I took a position in the double short utility ETF (SDP). Most of the utility stocks look a little weak to my eye. I bought a position about 3 days ago. Today, John Murphy notes that there is a long-term H&S. When I see a confirmation of an observation, I'm always heartened. Yesterday, though, there was a bit of a bounce which put it in the red, but I didn't see any real strength overall.
If you want to look easily at utility stocks...head on over to FINVIZ. You can see the charts here. If you want to narrow by type of utility, go to the 4th column and click on foreign utility, diversified....etc. If you also want to see a 'profile' choose that from the horizontal menu (look right) that serves as the chart header.
Miscellaneous: I didn't tell you that I closed Daisey's tail in the door last Friday p.m.. She was slipping out of a very narrow crack in the door (against my wishes). She pulled her skinny hips through and the door which was under pressure from me. When she slinked her hips through (which I was not expecting she could do), the door closed partially on her tail--enough to make it appear as if it were broken. She ran upstairs and jumped in my bed. I'm 10 minutes from the vet and 10 minutes before they close. Thankfully they were able to see her. Her tail was back in business when I got her out of my bed, but she was in pain. The vet gave her a steroid shot. Now she pees everywhere frequently--I make sure she gets out of the door quickly in the morning.
My neighbor is on vacation. I've been taking my dogs over there for a swim midday and endo of day to engage their left behind canine buds Ginger and Lacey. Their family will be home Friday, but they miss them. They are so happy to see me and all 4 dogs have fun. I do too. I've been kayaking at the endo of day. Ginger (golden retriever) always swims with me. Daisey gets in the water, but hasn't figured out if she can swim. She gets her entire body under the water though. Macy is intent in out fetching Ginger. She can now out-swim Ginger. But Macy is 2 and Ginger is about 8.
Ginger and the water are one. Now if we, as investors or traders, can be one with the market, then we'd have something going on!
I'm still asking the What's Next, Where's Next question. I'm thinking Utilities is not going to be part of that answer.