I have a huge cash position and now find myself fishing for ideas. There are a few names that have my interest, one of which looks really good. I might pull the trigger, as it is my belief this market has an upward bias.
DMND looks great; but EXK and RBCN look like shit.
JCP has rebounded from this mornings lows and MOS sold off hard.
My intra-day losses stand at around 1.25%, putting me to about +22.5% for the year. The goal is to preserve these gains by cutting losses quickly and taking moderate sized positions, in order to avoid another YELP situation. My average sale price on YELP was above $25, since I sold half above $27 last week. Ultimately, I believe the stock will trade north of $40; but I have little appetite for risk now and would rather gnaw off my own arm and eat it, than ride this fucker back down into the teens.
Stay tuned for a new buy.