In my opinion this is the worst possible scenario. I wanted to see a quick move to the downside , but instead we get this drip lower. This gives me confidence to add new shorts on any spike.
As of this morning:
I’m short Petrohawk Energy Corporation [[HK]] from 14.72
I’m long [[UYG]] from 4.05
…and I’ve been long [[BGZ]] since yesterday.
Did anybody catch that AAPL short down to $80?
Update: Covered HK @ $14.40
Update II: Sold BGZ @ $105
Comments »Mac has a great video on short setups for tomorrow. He also explains that we could see 3 more days of extreme selling pressure.
Brian explains why price pays, and why you should listen to the charts. Also, take a look at those YTD % losses.
Stewie believes the S&P will hit 600, he nailed UYG.
In case you missed it, RIMM was added to GS conviction buy list.
Comments »Watch the $87 level for Apple Inc. [[AAPL]] . If it trades below support, stops will be hit and should send the stock lower.
Every time I think stocks have a shot to move higher, mother market, aka. Merlin, comes by to make sure that does not happen.
My position in BIDU was quickly stopped out this morning for a loss, so much for a bounce. I also took SOHU off the table as the breakout did not hold.
In the meantime I’ll go back to scalping [[BGZ]] .
Fun times, not.
Note: [[SRS]] is on fire! I remember buying it @ $60 a few weeks back, wish I still owned it.
Comments »I’m buying up China.
Long live Sohu.com Inc. [[SOHU]] & Baidu.com, Inc. (ADR) [[BIDU]] .
Note: Stop on BIDU below today’s low.
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