As of today, May 4 2006, I have $39k cash sitting in my brokerage account. As of January 4, 2006, my portfolio had $36k cash. From January thru May, my portfolio returned 3k or 8% -Not a bad return since I’m now only 12% from my goal for the year. How did I achieve that growth? Below is a quick summary.

DATE DESCRIPTION QUANTITY PRICE AMOUNT
1/12/2006 Bought 600 XLE @ 54.68 600 $54.68 $(32,818.99)
1/12/2006 Sold 6 XBTAC @ 0.70 6 $0.70 $404.49
1/23/2006 Sold 600 XLE @ 55.00 600 $55.00 $32,968.99
1/23/2006 REMOVAL OF OPTION DUE TO ASSIGNMENT (XBTAC) 6 $ –  
1/25/2006 Bought 600 XLE @ 56.94 600 $56.94 $(34,174.99)
1/30/2006 Sold 6 XBTBF @ 1.50 6 $1.50 $884.48
2/7/2006 Bought 6 XBTBF @ 0.15 6 $0.15 $(105.49)
4/11/2006 Sold 600 XLE @ 56.66 600 $56.66 $33,983.96
4/13/2006 Bought 600 SNDK @ 61.91 600 $61.91 $(37,156.99)
4/13/2006 Sold 6 SWFDZ @ 2.60 6 $2.60 $1,544.46
4/24/2006 REMOVAL OF OPTION DUE TO EXPIRATION (SWFDZ) 6 $-
4/26/2006 Sold 600 SNDK @ 61.9093 600 $61.91 $37,134.44
4/28/2006 ORDINARY DIVIDEND (XLE)   $96.86  
5/11/2006 Bought 1900 EXPE @ 19.75 1900 $19.75 $(37,525.00)
5/11/2006 Sold 19 UEDED @ 0.95 19 $0.95 $1,780.70
5/22/2006 REMOVAL OF OPTION DUE TO EXPIRATION (UEDED) 19 $-
10/5/2006 Bought 100 GDX @ 34.25 100 $34.25 ($3434.75)
10/5/2006 Sold 1 GDXKI @ 1.50 1 $1.50 $139.25

As you can see, my current MMO (money making opportunity) strategy is the use of covered calls (Buy-Write/Overwrite) to generate returns for my portfolio. The positive cash flow is highlighted in green. The reason for using this strategy is because of my overall negative outlook on the US Stock Market. As I update this page on 8/11/2006, Oil is trading at $76/barrel, Gold is at $620, and the next Federal Reserve meetings in Sept. 06 will likely result in another rate hike up to 5.5% or more. These events are all negative for the stock market and it has oscilated up and down the past few months. I will continue to employ the covered call strategy utilizing ETFs until a major shift in the Dow, Oil, Gold, or interest rates takes place.

As of late 2006, transactions are now posted on http://www.etfcoveredcalls.com

Happy Hunting,

Rich Slick