Going Green

Looks like the market is picking up some steam going into the upcoming fed meeting on 11 December. Just a quick little note to let everyone know I took up a small position on the strength of the solar "GREEN" play. Because I still believe there is still volatility in the market, I decided to get into an Exchange Traded Fund (ETF), which tracks cleaner energy and conservation practices. The ETF I chose was PBW, which I got into at $24.22. It's made a nice run-up over two days, but not looking to make a quick buck on this, unless something specatcular happens. I have thought about selling a covered call on this stock, but the Jun 08 $27.00 calls are only selling for about $2.25, so will wait out this play a bit longer before making a final decision. I must give credit to my wife for this trade because it was her slight nudge and wink that provided the catalyst.

Just an update on a few of my posts earlier. As one can probably guess all my puts are slowly dissolving away and losing value as we close in on options expiration on 21 December. I have the Jan 15 calls on FLEX, but that's not looking too hot either. Additionally, the Dec 25 call I sold back in November on VDSI may be called away as well, which is okay because I still will be making a nice profit. I guess we will all see how this market really plays out after the fed announcement, which will be the guiding light going into 2008.