Bucket 2: WYNN – we added to the position again
WYNN is looking weak, we added to our bucket 2 short position again this morning. The head and shoulders pattern has taken its sweet time to work out but it it is now looking like it wants to resolve to the downside. We took first profits at $126 and see that if WYNN can close […]
MF Global Advertisement
Just flipped through a Bloomberg Markets magazine from earlier this year and found this ad…..just sayin'
Portfolio Holdings November 10…with Commentary
95% cash, more or less the tape is insanely volatile and that currently makes it senseless to hold any bucket 2 and bucket 3 positions in equities. Our bucket 3 long position in GDX is a) wigh major exposure to gold (a commodity and metal) and b) somewhat of a hedge against lower stock prices […]
Morning Thoughts November 10
Yesterday we witnessed a major reversal. Please note the big gaps on either side of the market here this mornign. Currently as of 8:40AM we have about a 1.4% gap to the downside and about a 2.3% gap to the upside. That sets up clearly defined targets for Bucket 1 trades and possibly Bucket 2. […]