Where I Stand

After a few maneuvers this morning, here are my current postions in my trading account:

• [[SKF]] – Short Financials
• Chesapeake Energy Corporation [[CHK]] – Long Oil & Gas
• Research In Motion Limited (USA) [[RIMM]] – new product cycle rolling out
• Celgene Corporation [[CELG]] – Exposure to Biotech (IMO, Best of Breed)

As for my long term account:

• Google Inc. [[GOOG]]
• Yahoo! Inc. [[YHOO]]
• Apple Inc. [[AAPL]]
• Gushan Environmental Energy Limited [[GU]]
• Visa Inc. [[V]]
• Holly Corporation [[HOC]]
• Dr Pepper Snapple Group Inc. [[DPS]]
• E TRADE Financial Corporation [[ETFC]] – Been buying lately
• NVIDIA Corporation [[NVDA]] – Been building a position since major drop
• Freeport-McMoRan Copper & Gold Inc. [[FCX]]

I made two buys in SKF this morning, one @ 118 & one @ 116. I let some go here as the market seems to be holding up well.

Oil cannot seem to gain traction, and “natural gas is a scam”–says Fly. Chesapeake Energy Corporation [[CHK]] will be the death of me, but I can’t help but think it’s cheap here.

I just added to my position in Research In Motion Limited (USA) [[RIMM]] @ 127.20. Also, take a look at the strength in Apple Inc. [[AAPL]] . Is money really rolling into tech?

The Bears have control until 11,700 .

Long Oil, short banks! That’s where the money will be made today.

We’re up against major overhear resistance in the indices. I sold out most of my longs at the open and will re-enter should we clear resistance.

That is a beautiful chart! It may be the best one I’ve seen in a while.

Shorting the banks via [[SKF]] offers a great low risk setup. This money making vehicle is sitting right on the 200 MA, the RSI has hit bottom, and the MACDH is turning positive.

These are all good signs, and ones you want to look for when entering a trade.