Bucket 2: New Short Position
We just bought April 45 strike puts on SBUX for a Bucket 2 trade…partially to offset the Bucket 2 longs but also as an alpha generator in and of itself. SBUX is at the top of its long-term trading channel and today is showing an outside day on the chart on good volume. A little […]
Portfolio Holdings January 3
Bucket 2 Symbol Open D Direction Sectors Avg Entry Stop Target 1 FDX 12/16/2011 long Indu 85.1 80 90 SPY 15-Dec long INDEX MMM 9-Dec long Indu 81.73 77.5 85 Bucket 3 Symbol Open D Direction Sectors Avg Entry Stop Target 1 GDX 7-Nov long […]
Broker calls this morning:
broker calls useless this morning…they are just throwing out manic ideas to generate commission. one guy has 1700 as a S&P 500 target for 2012, the other 700. great info guys…so tomorrow it could either be -20degrees or 120 degrees at the beach
Morning Thoughts January 3
Welcome back to the wild pack. Instead of rushing right back into things let us give this tape a couple of days to settle and let everyone warm up first. Most players are a little out of practice today so hitting a few balls on the driving range rather than storming right to the first […]
Bucket 2: Closing SPY long position
just closed our Bucket 2 long position in SPY at 128.25 for a 4.5% gain. we remain long FDX and MMM for bucket 2.
Afternoon Thoughts
With stocks up around 2% on top of the santa clause rally we are certainly nearing near-term overbought levels around 1280-1290 on the S&P 500. As such we took full profits in our bucket 2 long position in SPY (see earlier blog post). For now we will remain in our remaining two bucket 2 long […]