Back In

I am back to the original position in the Nasdaq futures. My strategy is working so far. I should have been more aggressive bidding for Boliden yesterday. Nordnet continuous to be a big underperformed for the portfolio.

Market Update

Bidding on Boliden. Swedish stocks are getting hammered today. Meanwhile the US commodity counterparts are seeing nice gains. Boliden is too cheap. Have another hour or so to pick up some more stock. (The metal prices are up lately). Asian and European market sold off today and while the Nasdaq future still was around -0.23% I sold my whole position and just started buying back seconds ago at around -0.79%. Of course I should have gone short, but at least I saved some money. It is, by the way, a very healthy market that sells off before tomorrow's Fed meeting. Notable is that my US stocks are all up today; GOOG, GS, TTM. Still which I owned MA.

A Trade

Sold the Google Sep $370 put for $13.30, which gives me a break-even at $356.70. Levels I have a hard time imagine. The company is now trading at less than 30x 2007 earning estimates. Some time Nasdaq will be back in fashion, and particularly growth stocks, now is the time to position yourself. Credit card company Mastercard releases better than expected Q2 earnings and was trading up 4 straight points this morning. I was scared by all the negativity in the media and among analysts, although I don't think it is too late long term. On the other hand, I don't like to chase it up here. Oil is very strong here, my advice is to watch storm Chris closely. Elsewhere on the radar is Nat Gas and Sugar. Silver seems to be gaining new momentum as well and is worth following. In Sweden my oil/mining stocks are all up big today.