April 1, 2010

After almost 1 year of silence I am speaking out.

Wow

That is all I can say. What a rally ! I only caught small bits of the stock rally. Still holding my uranium basket from last spring. The SU and USO positions I had as of last post both worked out well. I have added a few small positions in the RARE Earths as brought up by Jim Dines in his newsletter. For all his bad qualities they do some decent research. Long some RES and AVL in Toronto.

I've been quite active this last year doing straddles, strangles, etc. Mostly on Silver, currencies and a few fliers on Cocoa and Sugar ! Made some good gains doing straddles on the $CDN. I actually had one of the followers of theblog contact me and we did a bunch of $CDN trades together. He made about 20% on his money in 3 months and was a happy camper. I got lucky and caught one of the huge up moves in Silver last year. :}

Volatility in the S&P 500 has steadily dropped to quite low levels. No straddles there since last November. Not good risk:reward ratio will low option prices.

As of today I only have 2 small straddles going. One in the $CDN with 9800 as middle and one on the 10 year note with 116 as the middle.

Currency, energy and ags are particularily volatile these days :} Great for my type of trades.

Hope this finds all of you well and up considerably from last year at this time.

Options Guy