Rather boring trading today, as the financials and market crashed in the last hours. I sold my CAL, JNPR, and DTO today, while keeping COH, TTWO, and NTGR. I will buy more NTGR on dips. NTGR and TTWO will be long-term holdings for me, the rest trades. I also bought April $9 calls on DRYS, for an earnings play. The call option activity sent a huge signal, so we will see. Earnings should be released by 8pm. As for long side buying opportunties, AKAM, BIDU, GOOG, and AMZN are all on my watchlist. AGN takeover rumors are flying everywhere. I have selected shorts on my list, particularly COF, WRI, FR, MAC, and SLG.
We closed right above support, so we are at another pivtol area. If we dip below 805, we have a good chance dropping another 30 points on the S&P. With Obama speaking tonight, who knows what will happen; however, my indicators still show we are NOT overbought.
I had a few e-mails regarding my buy posts and entry points. Basically, what I do is make a purchase, then post it at the price at what I bought it at. Each stock is personally made by me, no one else, and may be purchased for technical reasons, momentum swings, etc. I try to make the post as live as possible, normally within 4 or 5 minutes, unless otherwise noted. I study the downside of the stock, more than I do the upside, so I often sell earlier than expected but my goal is not to lose money and hopefully make some.
I'll be back later, if there is any stock, sector, or idea (ex. like stocks with high short interest in tech), just let me know by leaving a comment or send me an e-mail.
RF
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