I raised some cash today selling out of AAPL, MOMO, KORS, EYES, VJET, & RNDY.
The only positions that I’ve purchased today and leaving on overnight are BIS & SA. I am not selling BIS. I am not selling BIS until 368 is cracked to the upside on $IBB.
I whiffed at the JOY, and took a pass on FCX, both highlighted over the weekend in my weekly report, and both of which would have paid today. Sigh, the life of a trader.
In my weekend homework, I also noted that I would be raising cash should we lose 1255 on the Russell, so far it looks to be lost. Although, we may see a stick save by the bell.
AAPL needs to save the day in after-hours, or we could be in for a rough Tuesday.
Here’s a look at my weekend report, which was posted on the 12631 blog this weekend:
Click the link to the right for free access: Watchlist (4.26.15)
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Current holding include: BABA, GMCR, TWTR, VA, SA, BCRX, BIS, & TVIX
$BABA sucked me in this morning, oh well, this buy was for my IRA any who.
BABA isn’t going to go anywhere until they start selling the US market with short delivery times and free shipping. Currently, customers place an order with a broker who quotes the price and takes payment via PayPal. Then the item has to be delivered through customs. This is a deal killer for many.
Currently I see brokers selling their products on eBay, shipping from warehouses in the US which is a way to get around customs, but adds cost to thier sales.
So BABA will have to settle for the Chinese market, selling inferior products to themselves. Not a good way to make money.
I thought seriously about FCX when you pointed it out. It passes my POS requirements.