Couple of trades in my arbitrage account today. Bought 400 DDM @ $74.30 and sold 4 DDMFX at $1.75 to rake in about $700. Also bought 400 more XHB at $19.80 and sold 4 contracts XXJFT at $0.75 to rake in about $300. These two trades represent 2% and 3.8% returns respectively with each having some upside potential of another point or two.
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Had a sneaky suspicion that you were onto XHB when you posted last week’s report! I don’t know why, but I almost predicted this trade over the weekend.
Good luck.
Also, I don’t know if you already read this, but this came up on my newsreader today:
http://www.smartmoney.com/stockwatch/index.cfm?story=20080527-homebuilders-not-for-faint-of-heart&afl=myyahoo&hpadref=1
I have been trading blindly for the past couple of weeks as I have been on the other side of the globe but I’m finally back to take the money bull by the horns.
I bought XHB & DDM because I think they’ll do well with the ETF Covered Call Strategy; volatility = profits.
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