Bucket 2: We Are Long SPY
We are long SPY at $127.25 Profit target around 129 but would likely take the cue off teh S&P 500 itself, if it gets near 1300 we would certainly take full profits. Stops are near 124.50 Don't feel entirely comfortable with the trade but we sized it accordingly.
Bucket 2: CREE Long
Last Friday CREE broke its 2011 downtrend to the upside and currently ist trying to establish itself above there. It looks juicy for upside with a first target around $34. We will notify subscribers if and when we enter the trade.
Bucket 2: Long-Side On NFLX
We discussed this one last week but now looks at a better entry point given where the broader market sits. The first gap that comes into play here to the upside is from right here right now up to around $110.
Morning Thoughts November 8
After showing resiliency the second half of last week the market again did so yesterday. The chart of the S&P 500 shows this best: In addition to teh wedging formation on chart yesterday (see blog post from yesterday), there is also horizontal resistance hera at 1261. A good push above here could easily get the […]
Portolio Holdings Nov 8
Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 WYNN 31-Oct short cons cyc 133.13 141 128 Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 GDX 7-Nov long 63.04 60 65.5