The Dow rallied past its previous high of 10,092.19 and closed at 10,226.94. This is the first piece to the upward movement confirmation. The second part lies in the Transport which has to close above 4,045.11 according to my reading. Right now, the Transport only need to move up 3.2% to reach that level. We'll have to wait and see if the two sign can converge. If and when they do, I'll be buying selected companies from my watch list.
The Dow P/E is 17.38 and yield 2.77%. I'm not sure if this is the right valuation for a long-term investor.
My Transaction
I closed my option position today with a big loss. Obviously I was wrong about the Dollar trade, what's more important was that I wager too much money into it. I wasn't discipline enough and as a result my most of my gains from this year nearly dissipated. Net loss of 23% was the result. I prepared myself mentally for the loss but the reality is still hard to swallow. You can learn a lot from someone else but this time I'll have to learn from my own.
Art
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