Dec update

Due to a lack of time to pay attention to my positions, the majority of the positions expired worthless.  I did manage to sell some positions here and there.  So as a result, my year to date return (since I started the blog) is now back down to about 100%.  Since I was up 200%+ at the peak, the market has taken back quite a bit of the gains.  So I am going to start thinking about switching to a swing trading strategy with 2-3 month time frame (playing longer term options instead of front month positions).

Oracle (ORCL) is looking very promising.  I am eyeing the Mar 32 calls for around 1.29 each.

I am also trying to look at the big cloud computing players and determine which ones to buy (the major players are Google, Amazon, Microsoft, IBM, and Salesforce.com (CRM).  Although it is tough to enter a position in a stock that is up from 25 to 135 in the last two years.  But cloud computing is starting to take off at the enterprise level, and is a field that will grow exponentially for the next few years.  Amazon stock chart looks really good as its coming out of a 10 yr base and doesn't look too over extended.  Combine that with a high short interest, and we could be in for a nice rally soon.

Other players that will benefits from this cloud computing trend are EMC (storage) and VMWare (Virtualization platform).  I will monitor these stocks and probably take long positions when opportunity presents itself.  Dell is also getting in the space as a reseller for cloud computing.  Combine that with the fact that Michael Dell just bought a $100 million dollars worth of DELL stock, and there just might be some hope (and the stock pattern looks promising as well).  I am not sure I will get any options on that stock, but I may add some to a long term hold portfolio.