An awful month

Fort the most part this past month has been awful for traders. The market lacks clear direction and the volatility creates an environment where Technical Analysis is almost useless. There - I said it - Technical Analysis is almost useless. Over the past month I have had some terrific gains but have had even more "terrific" losses. Currently I am on the sidelines in observation mode, although I do have a small delta positive investment position. I believe there is some upward movement in our distant future so my bullish position is made up of stalwarts such as AA, CAT, DIA, GE, and XLF. My strategy is to collect their dividends and sell Covered Calls at the height of the bounces. If they get called away, then that will be evidence that the bull is back and I can start counting on some upward direction.

This is a good time to exercise patience and invest in education.