My Trades Today
Bought the DXD when the Dow crossed 8000. We’ll see if it drops like a stone… clearly I am expecting this.
Shorted RIMM at the 50SMA yesterday morning. It is up a lot this morning, but I think will peel down a lot before the close, as I think that people will get cold feet carrying this into earnings after close today. If the experts are forecasting 10% unemployment, that hits RIMM right where they live. I see an OK report but should be lousy guidance. But if RIMM guides in-line or up, the euphoria will make it take off. It doesn’t help that Goldman Sachs said to buy it into this earnings report. So, I am quietly contemplating selling at least some before earnings, maybe halving my position and taking a small loss to hedge the risk.
TM is climbing fast and getting into an even better position to short. One month of up numbers and that were still tragically bad, and suddenly all the automakers’ troubles are over? Please. This thing is going to fall. Hard. And I will be short when it does.
Shorted some JKHY yesterday on the gap up. Total head fake in sympathy with the Metavante buyout deal. Will cover the short at the 50sma.
Also long UNG on a technical trade. Will cover as it approaches the 50sma or falls below $14.65.
Disclosure: As of publication I have long UNG CHK and DXD. I am short RIMM and JKHY. I am not a professional, but I am trying this at home. It is highly recommended that you consult a licensed financial advisor or broker before making any and all investment decisions.
