Trades and Ideas

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]] — 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