Tuesday, May 26, 2009

Taking Some Profits

As the Dow passes 8450, I become aware of the falling resistance line that could spell the end of this dramatic rally off of the March lows. With our core account up around 11% thus far, in what many expected to be a horrible year, I am jumping the gun a little and starting to adjust our core portfolio. In some cases, I am taking excessive profits and buying 2011 LEAP Call Spreads. This will enable us to take some money off the table in certain stocks where we have made big profits without totally giving up a long term position.

More to come as the week progresses.

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