Daily Investment Interpretations
August 5, 2009
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
to close at 1.993.05,
the Dow dropped 39.32
close at 9,280.97
and the S&P 500 lost
to end at 1,002.72.
Oil closed down slightly at
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.