New Bucket 2 Long Position
We are long SKUL (Skullcandy) as of this morning. We are long a 1/3 of a full position and will look to add should it move up in coming days and weeks. Fundamentals look solid if you can understand the cash-burn thus far this year and with 80% of the float short it wont take […]
Morning Thoughts August 29
Another unchanged day yesterday in stocks as a whole. Not much to report as such, so let’s look at the immediate term swings to see where we may have some reference levels to lean against and target for…for those that deal with the near-term time frames; For the S&P 500 A break below the 1405 […]
Morning Thoughts August 28
Good Morning First off a little cautionary note; on average the last week of August is slow going in the stock market. The key word there is ‘average,’ which certainly doesn’t make it a rule. As we have come to learn, anything can transpire in a centrally planned market and thus we would be wise […]
Closed A Bucket 2 Short Position
We just closed our position (bought back the calls we were short) in TSO that we had bought last week. Profitable trade.
Dining out is in
While markets are still weary of the constant uncertainty of recent years, year to date all sectors in the S&P 500 are in the green. Not surprisingly given Apple’s (AAPL) strong run and heavy market capitalization the technology sector is leading to the upside. In second place however is the consumer discretionary sector; up just […]
B2 short positions exited
We took full profits on our Bucket 2 short positions in SPY and IWM yesterday as the S&P 500 it 1402, as planned earlier in the day yesterday.
Morning Thoughts August 24
Another terrible volume day yesterday – down 12% vs 20day (and barely cracked 5bn shares) – VWAP a cap all day as longs sold – first day (in 4) we saw legit shorties in market (in Energy, techs, miners…so BETA) – luckily SPX bounced from 1,400, but will be tested today. We exited our Bucket […]
SPX downside target
our next downside target in the SPX is 1402. We will exit our b2 shorts in SPX and IWM on a move above yeserday’s highs.
Morning Thoughts August 23
Yesterday’s intraday reversal off the lows felt weak, the test is this morning…will we see follow-through weakness from Tuesday? For now we remain short SPY and IWM. Two stocks to watch: Biglots (BIG) with its big gap down this morning may eventually have room down to the $35 area. CMG is on the verge of […]
Morning Thoughts August 21
It was a dead day yesterday and trading ranges remain narrow and the path of least resistance up. On the S&P 500 this might well mean we see 1440 before we see 1400 again, but at this stage in the rally one should at least have taken partial profits and remain with trailing stops. Anything […]