Friday Trades and Holds
Not too many trades today.
Shorted C, SPG, SDS, GE, PENN, COF, SSO, FSLR, RIMM, AMZN; was long KGC.
I work from a list of familiar symbols, just put the trades on in the morning and let them ride for awhile. I don’t like going “all in” on any one and as my margin grows I like to diversify a bit more, so instead of 3-6 symbols, I work with 8-12.
S&P is nearing 805, which is the first resistance level.
I’m very short over the weekend
Current Trade Positions – Long
- [[eev]] UltraShort Emerging Markets
- [[dgp]] Ultra Gold ETN
Current Trade Positions – Short
- [[FSLR]] First Solar — needs no introduction, new target $56
- [[SDS]] UltraShort S&P500 ProShares — only core position, will add next week
- [[SSO]] Ultra S&P500 Proshares — shorted at the close
- [[AAPL]] Apple — very weak performance today
- [[BIDU]] Baidu.com — one of a few stocks over $100 left, P/E 27, no dividend — good short to hold, have no fear
- [[GE]] General Electric — small position; their portfolio is overstated by 35% according to mah sauces
- [[X]] – US Steel
- [[DIG]] Ultra Oil ETF — target: oil = $37
- [[AMZN]] Amazon — overpriced, good intermediate short