~ Itz Weekend Review ~

Week in Review: S&P500 + 3.08%, Gold +2.24%, Silver +5.4%, US Dollar & Euro were flat, Crude Oil +2.48%
Itz Pix Upgrades/Downgrades: RIMM Cannacord raised price target from $95 to $100. SU Deutsche Bank upgraded to Hold from Sell. SLW Scotia cut price target from $20 to $19.50.
Ed Yardeni on CNBC gave his year end S&P500 target of 1300/1350.
In the news:
China's Wen promises strong growth in `crucial year,' efforts to promote clean industries. link  Positive Jobs Report Doesn't Ease Worries of a Double Dip link FOMC voter Bullard losing patience with low rate pledge link ECB Praises Greek Plans, Not Bailout link

JPMorgan Chase Joins The Itz Pix Portfolio

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JPMorgan Chase (JPM) joins the Itz Pix Portfolio @ a suggested BUY of $42, set stop at $40. Recent post ~link~

ITZ PIX Portfolio Update

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ITZ PIX ; Covered Calls Recap

Recap on a few of the Itz Pix covered calls.

Abbott Labs (ABT) Entered in August $44.89 sold covered call Oct 30, Jan $52.50 (ABT-AX) for $1.35...cost basis $43.54. The stock is trading over it's Strike price. However we have 9 to 10 weeks remaining until opex. Tonight Cramer on Mad Money gave a technical chart outlook, sees ABT heading higher, maybe? Locked in now for a 20.58% gain, may roll up as we near opex...we'll assess then.

Yamana Gold (AUY) Bought in July $8.50 sold Jan $14 (AUY-AP) for $0.90 back on 10/19. Cost basis $7.60, stock current @ $12.61

Silver Wheaton (SLW) Entered @ $12.66, back on Oct 7th sold covered call Dec $15 (SLW-LC) for $1.10 Cost basis $11.56. Stock is currently @ $14.97, looking to roll up & out, lets wait for some time decay to kick in as we near opex in December. Currently if call @ opex would be a 29.8% gain.

Genco Shipping (GNK) Entered Oct @ $22.90, sold covered call Jan $25 (GNK-AE) for $1.70, Cost basis $21.20, stock is @ $20.72 down 5% today, high beta stock.
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ITZ PIX Portfolio Update

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Itx Pix Portfolio

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ITZ PIX Update: Dollar Continues Decline

Bernanke says recession 'very likely over,' but unemployment pain will linger, dollar plunged as investors exited it as a safe haven. The US Dollar ($USD) may find some support at the 76 level nearterm, I see it putting in a technical bounce there. But this rally in stocks & commodities is being driven mainly by 2 things- lower dollar & those chasing the rally. Buy the dips still holds. The Itz Pix portfolio has been reflecting the lower dollar & higher commodities move.

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