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Friday, June 13, 2008

The Week ahead

I am back in Singapore after 10 days of break. Its nice to be back. Me & my wife resolve to live heathier in Singapore after 10 days of detoxing...eating fresh fruits, vegetables, seafood, green tea & coupled with lots of walking & uninteruppted 7 hrs of sleep everyday. It was a refreshing & rejuvenating trip. I am glad that I made that trip.
Meanwhile, Wall street ended a turbulent week with a sharp gain on Friday after inflation numbers came in within expectations & an easing in oil price. The coming week isn't action packed but it will be closely watched, with earnings results from three major Wall Street banks and several potentially market-moving economic reports. As for the Nikkei 225, I am seeing good support at around the 14000 levels & thinking more upside potential next week & so will be looking to write the Sep calls (17500 and above). I will add a few more Aug puts (9750 & 10000) along the way if opportunity permits...since the premiums still look attractive to complete the Aug's income set up.

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