Daily Investment Interpretations

August 5, 2009

2009-8-5:  The indices fell back a little today.  The Nasdaq gained 2.7 points (0.13%) to close at 2,011.31, while the S&P 500 closed above 1,000.  The NASDAQ Composite lost 18.26 points (-0.91%) to close at 1.993.05, the Dow dropped 39.32 points (-0.47%) to close at 9,280.97 and the S&P 500 lost -2.93 points (-0.29%) to end at 1,002.72. Oil closed down slightly at $71.77 a barrel, while gold doffed $3 to end at $966. The VIX ended the day at 24.90.
    No real news today. The real question is: what to buy, and when to buy it? A pullback will come when I have thrown in the towel and given up on a market pullback. (I'm an excellent contrary indicator.) So far, though, every dip is an invitation to buy. Right now, I'm angling for January, 2011, $30 calls on the Exchange Traded Brazil Fund, EWZ. (ZYLAF)

 I'm also interested in purchasing shares in the Wilderhill Clean Energy Technology Fund, PBW. 

    I believe it's time to start buying January, 2011, calls.