The only stock more disappointing than FaceBook (FB) remains Cliff Resources (CLF) down nearly 3 today again. As I mentioned in my talk to the Option Group last month, to be safe it would be wise to hedge with puts or put spreads. Searching Yahoo, et.al., I find nothing but good news on it - even Jim Cramer recoms it. I made profits on my recom of 57 1/2 X 55 put spread, put on a 50 X 47 1/2 May 25 put spread, and just rolled the 50s to June 1 (hoping the 47 1/2 will expire tomorrow and I shall sell the June 47 1/2 put against the 50. CLF has been tightly correlated with market movement - ugly in May!
I was going to close out my June TLT B/W after the last dividend, but it was called away, being so far ITM. Just as well - reward of under 5% not worth the worry.
Latest trade, in spite of a weak market: DITM on SDY, with hopes of an oversold market. Upcoming candidates: TOT,PM,HNZ,LMT,HUN,TAL,LO.
Into every life a little rain must fall - looks like rain Friday!
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