Wednesday was another day in the market with positive price movement. Because of that I don't have much to say except to provide an update on how my positions are doing, and speculate on what I could be doing if I had the free capital.

Let's start with my NG Covered Call. I probably should have sold the Call option with a shorter time frame, as it continues to rise with 31 days left until expiration. As a result, I am locked into it unless I come up with the cash to buy back the option and I have no desire to buy it back just to sell the stock.

Now let's look at my Bought-To-Open Call positions. Wednesday was a great day for CVX as it rose over 50% to finish swallowing the decline of a few days ago and put in a profit. As a result of that I have tightened it's stop. As for DIS, it only had an okay day. The gains were only meager and it seems to be hitting what I call an inclining resistance line (the top of a trading range). So far the gains have been great and I hope this resistance doesn't hold and more gains continue. However, I can't rely on hopes, so my stop remains in place. I may tighten it before Thursday's open.

As I prognosticated, FPL has done as I expected and has turned up, however, I am without capital to take advantage of it. This is another reason I probably should have sold the September Call on NG instead of the October Call. It's also another reason to tighten the stop on my DIS Call. That is my opinion, you can take it or leave it.

Disclaimer: See bottom of page.