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Short Calls on ENER, UNG

August 12th, 2009

I sold some calls on my UNG and ENER positions yesterday. I have a pretty low cost-basis in both of these but the declining 50-DMA causes me some worry. I’m ready to sell some more puts if either of these turn around. If not, I will take the premium from the calls for now and wait for another opportunity to enter. I’ve always done best in the past to sell calls into fading momentum as soon as I can. I need to get back into that mindset.

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