Show Me What You’re Working With

While I hate initiating new risk on days like this, I am using the time today to develop new ideas for the coming week.

Since I am in the process of charting stocks all day today, I would like to request that you share your top idea or trade set-up. Last time we attempted this, we got a great turnout, and a handful of profitable ideas.

I will respond to all requests, so fire away.

I am going to do this via StockTwits soon as well. Please follow me there.

OA

With a jam packed week of economic events and news, it would thrill me to see the market flat on the week. This would be the perfect intro to yet another leg up in stocks.

On the day I’ve taken a new position in FSLR and NFLX calls and am about ready to take down a SCTY position. I’m on the fence as to whether to trade these options, which are complete shit, or just buy the stock.

At this point I have decided to call off my plan to reduce my exposure to the market and start picking stocks that will offer explosive moves in the short term.

Carry on…

Another quick update of what I am holding:

Option Positions: AAPL, AMZN, BZH, GOOG, GMCR, MCP, OVTI, RKUS, SHLD – *FSLR today

Stock Positions: GLUU, UNXL, CHCI, PACB, NBG, JKS, OSGIQ, ROSG, ONVO, NDLS, SIFY, RENN, LITB

OA

I am going after some low quality names here.

In terms of market analysis, the /NQ is keeping this market from rolling over today. Keep an eye on it.

We’ve still got a ton of economic data to chew through here this week. I am looking to scale back some risk on positions I have that are going nowhere.

OA

I am thinking that markets are going to be in this mode for awhile. As a result, I am a little less excited about using calls to leverage swing plays, because time premium and slow markets are a recipe for a slow bleed in account values.

Rather than carry 10+ option positions as I have been, I am narrowing that down to 6.

Rather than carry 12+ stock positions, I am going to kick that up to 15+.

On the day, I booked gains in YOKU and took a Aug2 915 position in GOOG calls.

I will be looking to take off a few more option trades today and am watching ADHD and NBG for a long.

More later…