Economic Stimulus Plan

Yesterday while waiting for an appointment, I read a small article in a baseball card collector magazine. The premis behind the article was: If you were given $100.00, what baseball cards would you choose to spend that money on. So borrowing from that premis, (No, I'm not handing out $100.00 bills) when/if you get a stimulus rebate from the government, what are you looking to spend that money on? If I narrowed it down further and you could only pick stocks/options/mutual funds etc. What would be on your short list?

Options Expiration

As the mantra in my blog states, "lessons learned good and bad," Tomorrow I have a bunch of put options that are going to expire worthless because I was over zealous with my purchases. I fell into the classic trap of buying "out of the money" puts because they were cheaper when compared with their "in the money" counterparts. One thing to always remember, when you are a buyer of puts/calls time is your ENEMY and conversely when you are a seller of puts/calls time is on your side and you want that option to expire worthless, so you can pocket that premium and then turn around and sell another option against the same 100 shares of stock. I actually find myself in this situation because back in Nov I sold a Dec 25 call on VDSI for $1.20, so looking at the price right now it is likely to expire worthless tomorrow. I am also currently contemplating selling some covered calls against my position in RIO.

MAD Money $$$$

Here is a picture of my most recent trip to my hometown of Seattle and a quick stop to Pike Place Market. I think I look pretty good in this picture. Anyway, I'm loving this market, but I still need to remain cautious and not spread myself too thin. I have been an average watcher of Jim Cramer's Mad Money and Fast Money, so I am including a link to a website that tracks the Mad Money show and recaps the entire show for those who may not have a DVR recorder. I have added a few new links to this page from Trading Goddess and Alpha Trends, so check these and of course don't forget about this blog. I still have my position in AFSI, however if it continues to fall will set a stop between $14 - $15.