Dow FALLS more than 200 points!

Ouch. This is a tough market for traders and investors.
Oil/natural gas is still profitable, as well as the oil/nat. gas companies.
Crazy speculative gains...

June has been a disappointing month. Gains are being erased and the Dow, Nasdaq, and S&P are slumping.

Insiders at STX are selling their shares. I'm going to be following the trend and dump my STX shares. There will be better buying opportunities down the road. Thankfully I'm only down about 0.60 per share and I've hedged by selling my options.

I'm also holding these stocks (which most will be assigned because the options are ITM):

DSL
MBI
EGO
CPSL
HL
NYNY
PEIX
EP
WM

Wall Street Warriors

This series has been a good source of entertainment...

Finally, a new gain to offset loss. STX running up.

STX is running back up after it hit support in the 20's. Partially attributed to the shorts covering and buying interest. I would expect it to test or break through resistance around 22. The pattern is displayed in the last couple of rallies.

Today's purchase:
10 contracts of June 22.50 STX @.10

If it continues to run up as shown on the chart, this option can reach $1.10, which would result in a $1.00 gain x 10 contracts (1000 shares). It's a good risk to reward in my opinion (certainly I am speculating, but not risking much).


4 more days of option trading for the month. Updates later.