Trade - 4/16/09 - WMT

STO (1) Naked Put - WMT May 09 @ $50 for $1.83 each. Net Premium $182.

While I still believe we are in a bear rally and not a bull market I also believe we are forming alot of support around DOW 7900-8000 and may move sideways all year at this level. I am trying to get my trading account to less than 50% cash on the sidelines by investing in SOLID companies with Great balance sheets. I was pushing 90% cash position just 2 weeks ago. I also want to keep enough cash in case we go down to 7000 DOW again.