Friday, April 17, 2009

20080416 PM

DOW 8,125.43 +95.81
NASDAQ 1,670.44 +43.64
SP500 865.30 +13.24
Strong finish in the last couple hours to close near the highs of day set up a potentially explosive upside tomorrow for options expiry.

URE 3.70 +0.27. Day range 3.17 - 3.97. Sold April 4s covered calls on the remainder of this position. Bought this for 2.77 on 03/24/09 for 33% gain, so would be happy to be taken out at 4 this weekend to force me to take the gains.

AEM 45.73 -3.59
TRE 2.85 -0.20. Volume is not as high as Monday, but volume is still too high. Needs time to consolidate and then show upside strength before this could be a buy.

XLF 10.97 +0.12

GGP 1.05. Trading halted due to bankruptcy of this commercial real estate holder. This is the second-largest shopping mail REIT.
BPO 7.23 +0.28. Brookfield Properties
SPG 47.25 +3.25. Simon Property Group.
IYR 31.91 +1.25. iShares Dow Jones US Real Estate
SRS 28.29 -2.58. ProShares UltraShort Real Estate. 52 week range 25.84 - 295.72.

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