Cajun is Back

Let me give you guys a full update on my positions:

Long-term portfolio: AAPL, GOOG, V, DPS, TSO, GU, NVDA, ETFC, EQIX, SNCR, & plenty of cash.

Day Trading/Swing Account: (BIG) & Cash

Today’s Moves:

• Sold FSLR puts
• Sold DRYS too early @ 92
• mucked up a trade in SINO (I now hate that stock)
• Sold my puts in POT for a loss (Note: I hate POT more than any other stock)
• I bought BIG ahead of earnings
• and bought SNCR for my long term account (There are many reasons why I love this stock at these levels).

Note: There are some great setups taking place. Look for charts & setups later tonight.

Note II: This is why I nominated Alpha, check out this article— Great stuff. He’s also long BIG— a smart man.

I’ll be back on Thursday, but I wanted to drop by and give you guys an update. Yesterday, FSLR dropped below that magic level so I purchased a few puts– i hope you did too. I also noticed strength in the shippers late in the day, and purchased a few calls in DRYS. Both trades seem to be on fire this morning.

Enough talking about the past, you can go to DT’s blog for that. Let’s make some money today, here are a few ideas:

• Shippers still look good for a bounce, try SINO
• Take a look at AMZN, a good friend of mine thinks it’s ready to bust loose.
• take a look at RACK, it’s ready to breakout
• BIG reports later this week, I’m willing to gamble on this name
• AEO reports good numbers, look for ANF to move higher.
• A few more breakouts to watch: HXM, ORCL, FUQI, TITN, STMP, NLS
• Take a look at the refiners: VLO, HOC, TSO

Good news for FXP holders:

CHL falls 8% in Hong Kong trading.

Wednesday:

• American Eagle Outfitters Inc AEO
• Daktronics DAKT
• Men’s Wearhouse MW
• Polo Ralph Lauren Corporation RL

Thursday:

• Big Lots, Inc. BIG
• Costco Wholesale Corporation COST
• Dell, Inc. DELL
• J. Crew Group, Inc. JCG
• Joy Global Inc. JOYG
• Sears Holdings Corp SHLD

BBQ & Beer!

First of all let me just say I’ve been wrong on POT on every recommendation. But, I think the time has come for a significant drop. As i said earlier, I bought some deep out of the money puts, June 160’s to be exact. Before you comment, let me just say I do not intend to exercise them, I intend to trade them. All I need is another 10 point drop for my puts to nearly double in value, and that’s what I’m banking on.

Looking at the chart below, the stock (short-term) is making lower highs and higher lows. The stock also broke through the 30 day moving average, a key signal for me. All signals point lower, but you never know with POT.