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All,
I did a lot of portfolio adjustments this morning. First IOM fell
back to the bottom half of its up trend channel so I bought back my covered
calls (IOMHE) at 3/8 for a great gain since I sold them at 1 1/8 a week
ago. Next, LTXX was at the top of its channel again yesterday, so I sold
Nov 5 covered calls (XQTKA) at 2.4375 against 2/3 of my position. That
will protect me in case it falls back to mid channel which I expect, but
still allow me to participate if it does break out. Then I looked hard at
my portfolio with the idea of freeing up some more buying power. I closed
my DJT position at 10.25 and my IVX position at 10.9375. Both of these
stocks have been sitting at small losses and essentially moving sideways
for some time. I still think both are good stocks, but I have a better
opportunity in APM. I'll open an APM position sometime today, but want to
watch it for a while since it is off a little right now.
Jim
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