It was a volatile week last week, as markets followed the news coming out of Greece and Europe on the Greek bailout/debt negotiations. Things were range-bound for the first three trading days, but, took a drop on Thursday when news came out that Greece will bundle its payments to the end of June instead of paying the first installment of 300 million Euros. Friday was met with an initial drop, but, things recovered a bit to close the day.
We had a pretty good week. Other than a couple of trades, most of trades did well, and our portfolio value stayed at its all-time high. Our GMCR puts and VIX calls did well. GOOG and QIHU calls also gave us some nice quick profits. Here are the closed trades for the week:
For the week, the Dow was down 161.22 points; SPX fell 14.56 points; Nasdaq slid 1.57 points. Gold took a drop, falling to below $1170/ounce. Oil was basically flat. At the time of this writing, Asian markets were mixed. Here are where the US markets stood after Friday's close:
On Friday, SPX fell 3.01 points to close at 2092.83. Its 10-day MA curved down. The MACD also went lower.
Nasdaq added +9.33 points to close at 5068.5. It closed below its 10-day MA. Its MACD also went down.Both market indices are looking vulnerable. SPX closed below its daily MAs. While Nasdaq closed just below its 10-day MA, its MACD went lower. For the new week...
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