Updates for Wednesday (9/24)

I don't think the markets have been this flat in two weeks or more. The markets are in no hurry to commit in one direction or the other until the details of the bailout are finalized. I'm guessing the markets will continue to leak downward, unless something big comes out to push it up.


Today's Activity
Bought LVS Jan 25P/40C - 1 contract @ 8.90
Entered limit sell for LVS 25P/40C @ 9.95 (~10% net profit)


Updates
AMZN continued to push below the lower bollinger band, and is well below all the moving averages. It's hard to tell where it will find support. The only line I'm seeing is a horizontal line just above 65. The put leg of my strangle is up 22.7% so if it does start to show that it's found a solid support I can sell it for a good profit and ride the call back up.

DRYS nothing much new on this one.

FDX broke through not only the support, but also the 50 and 100 day moving averages, on rising volume. Looks like the next chance for support would be the lower bollinger band and a horizontal support right about 80. At the low today I was at over 3% net profit, so I shouldn't have any trouble getting out with 10% profit before the 80 mark.

LVS much like the general markets, didn't really do much of anything today. By the time markets actually opened the stock had settled back in right around yesterday's close. So I got in both legs right where I wanted to.