Markets closed down with the DOW losing 217 points and S&P down 22 - TopicsExpress



          

Markets closed down with the DOW losing 217 points and S&P down 22 points. From our post yesterday, we were expecting a lower market today and was able to make solid gains. Our short position on EOG paid off by the stock dropping $3.64. We sold out of EOG as well as the long protection on LVS that we purchased yesterday. However we did start a long position on LVS just prior to their annual shareholder meeting. This proved to be a good trade as the stock spiked up after LVS announced they will be conducting a $2 billion share buy back. We were anticipating some sort of good news from the conference and therefore purchased the Jan 2015 contracts. Tomorrow, we are looking for an up market. If we are able to get a nice bounce in LVS, we will be looking to take some profits from our purchase today.
Posted on: Thu, 06 Jun 2013 05:06:45 +0000

Trending Topics



Recently Viewed Topics




© 2015