Today I spent most of my time just watching the markets trade down and then be range bound for most of the day, holding at their lows. I did make some purchases today...
1. I purchased some $LVS Aug 50 $CALLS following some big money as posted by a website that I follow, Whatstrading.com. This is pure speculation.
2. I also purchased and added to my position in $MOS Mosaic believing that the fundamentals of this company as well as the industry are in tact. I believe that global growth will continue to move forward and more food will be needed as populations grow, especially in emerging and frontier markets. I believe Mosaic is a good play back into the mid 80's more or less where I would either take profits by closing my position or sell some ITM upside calls for some additional premium.
I am looking at getting long $RIG & $CAT if the market continues to pull back. I think they both offer some nice long term rewards and in the case of $RIG, a nice dividend to boot at these levels.
That is all for today, as far as I can remember. I will continue to post more of my ideas and actual trades as they come about.
Sincerely,
TraderJive
Follow me on Twitter: @TraderJive
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