What a week. Financials rallied, M&A in the Pharmacutical/Biotech Industry continued, and Jon Stewart totally destroyed Jim Cramer. Into the close, I sold my FAZ position, for a tiny profit, considering it was up to $45 today. I think financials are a nice short here, since they have rallied so much. SKF and FAS are nice plays, that will get you short. If the financial index drops 5-10%, these funds rip 10-30%. I will say that the volatility on these funds are extremly high, so keep tight stops and use them as swing trades, not momentum trades. In addition, I sold all of my longs this morning except for TTWO. I still like TTWO and even PCR. I may buy back PCR later because I like the stock; however, construction is facing a tough economic environment and can get crushed in a bear market. I initiatied a small short position in VTR (healthcare REIT) and I will continue to build into that one, as well as some other REITs. I also have about 15 put contracts on the SSO ($15 March), so I will hold them (since its house money) and dump them sometime next week. Lastly, I still own SDS (cost avg. around low $90's). As for the day, my portfolio value was up $312. Right now I am in mostly cash (90ish%) because I am going out of town next week and won't be able to trade until Wednesday.
I believe Trade 247's Top Contributor, RT, will be back this weekend with some great analysis on TTWO. He had some great picks on 3/10, so I am excited and ready for the read. As requested by Dennis, I provided my e-mail on the left side on the blog. Feel free to e-mail me about any stock picks, analysis, or if you would like to provide some weekend commentary!
My Top Pick: Cash. (Ok, if I had to do something and felt wild, I would take a shot and short finanicials via SKF, FAZ, short XLF, or short UYG. I think its a quick profit since financials have had a nice run and "big money" will take profits. I also heard today that Direxion is considering a reverse split on the FAS, to reduce volume but who knows. On the short side, I have some commerical real estate ideas, via REITs, as well as a few other ideas. I will elaborate later.)
Trader Disclosure: Each post on this blog, highlighting buys or sells, are personally bought and owned by RF. The blog contains RF's personal views and does not act as investment advice or recommendations, instead these are real-time purchases.
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RF,
ReplyDeleteI love your blog. I have passed it to some of my co-workers, how long have you been doing this?
RF,I bought some JOYG Monday and it is up 22% this week! Cramer boosted the stock on the show tonight, saying the firm was dirt cheap. Any thoughts on the other industrial ideas you had from Monday? Perhaps AA?
ReplyDeleteRF this blog has been around 2 weeks and it's LEGENDARY! Great stuff, you made me a nice pile of cash on Take Two.
ReplyDeleteTed-
ReplyDeleteThanks for the comment, I have been trading for 5 years, its my top hobby besides golf. Thanks for passing it along.
Anonymous-
Thanks, glad you got in on JOYG. For once, I agree w/ Cramer, JOYG is very cheap has a high short interest, therefore the squeeze can continue. AA is very cyclical, scale into it but I like it more around 5ish. I don' own this but I wish I owned JOYG haha.
Anonymous,
Thanks man, I appreciate the comment. I only post the buya I personally make, so if they go up, I make money, if they go down, I lose money. I'm glad you got in on TTWO, I am still long myself.
Have a good weekend everyone.
TTWO WORKED OUT GREAT FOR ME AS WELL!
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