"Charles Dickens wrote,"It was the best of times and it was the worst of times."
This August was definitely the worst of times for us.
As the monthly cash machine took a "hit" to the tune of a $7,785 loss. In addition, our 14 month winning streak on our DJX position came to a "crashing" halt, as we were down $7,600 when the market just didn't correct.
We did roll out the DJX position to September and will attempt to cut out losses by about 40% if we can get our DJX 98/100 call credit spread to expire.
This still remains to be seen how that will play out.
In addition we may also have an opportunity to place a put position spread on in addition to our September DJX call spread, if we get the opportunity and the right spread price." As I have always said, this market is a "what have you done for me lately". So let's put this month behind us on go forward.
The results for August can be seen in the portfolio section for August.
September Watch list will be emailed later today.
In addition, this weekend we will be adding more September positions to our September portfolio.