I can’t remember when so many of my stocks got gang-raped so badly. Witness [[CLR]], [[CLF]], [[CNX]], [[WLT]], [[PBR]], and [[SID]], in the Alpha portfolio, which took a 4.26% hit to the balls today.
However, I do know that these same names tend to bounce back nicely after selling off, so I’m not too worried, at this point.
That didn’t stop me from raising cash today and shorting names like [[MS]] @ 39.22, [[LNC]]@ 52.60, and [[PNC]]@ 60.95 in the rest of my portfolio. These make sense, as they are 98-pound weaklings, struggling to bench press 40 pounds. Right now, I’m hoarding cash and planning to go double inverse on selected sectors bets, should this situtation worsen.
Thankfully, I’m still up 27.9% on CLR, 10.9% on CLF, 9.8% on CNX, and 6.3% on WLT, since May 12. No complaints there.
Much to my dismay, PBR and SID were both down today, as the stupid Brazilians decided to take the day off and party (for no reason).
All in all, the Alpha group of stocks has not given up the ghost, and is still up 6.7% in a month’s time.
Disclaimer: This information is not intended to be used as the primary basis of investment decisions. Because of individual investors requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Consult your financial advisor prior to taking any actions. The information and opinions contained here are those of the author and are not necessarily the same as those of iBankCoin, its principals or its affiliates. The author may have a position in one or more stocks mentioned here. Trade at your own risk.
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