Another good day in the markets trading GS which I opened yesterday.  Markets were stalling today with no conviction to either side.  I held my SPY puts and I will keep them as long as I am holding calls. 

Tech is strong right now but we are all waiting on AAPL to show signs of strength which we saw yesterday.  I expected resistance in AAPL at the 585 level and it pulled back and went right back up but we need more conviction to hold support here.

New trade - GOOD calls Jan 13 expiry

Hugh

Today was a good day in the markets as I closed out a few positions and added as well.

Opened the day long with calls on CRM, GMCR, AAPL, FB and last but not least RIMM. 

I didn't like the action or lack there of in CRM and GMCR so I closed those out and let AAPL and FB run which they did.  Once the SPY looked weak I closed out the AAPL and FB trades for a profit which I posted on twitter. 

I am still bullish on all of these stocks but the markets are to be traded, in and out until we have good news out of Europe.  The SPY looks like it has some support here so we may trade up to 145, or not.  In the meantime I am adding SPY puts for protection on my long trades which currently are GS weeklies 120 stk and my JAN 14 call on RIMM.

We could see huge gains in AAPL and the whole tech sector if the markets hold up and AAPL continues run.  If you are trading AAPL make sure to buy time value, at leas Jan expiry.

good luck to all  !

Hu