Trading update

Covered calls are amazing. If they expire out of the money, you just sell them again. Although my January ETFC calls expired OTM, I sold February CC (strike - 5) at $0.4 each today. I have no problem with making a guaranteed 10%+ return from the calls in a mere 16 days, and if they expire OTM, I'll sell my golden goose a third time.

Update (12:47 pm): In the same regard, I just sold an April CC (strike - 25) at $1.15 on SLM.

I was right: WU

I hope that none of your are choosing to sell your positions at lower prices than what they should be worth. These are crazy times! As you might remember, I recommended WU on 05/18/2007. It hit 24 on 12/21/2007.

The verdict is still out on my last buys. I've taken hits on all of my positions, but my long-term outlook remains excellent.