Well, This Is A Bull Market, You Know.

We are in the midst of an epic rally, fueled primarily by better than expected employment data. Friday’s jobs report supports this theory. Plus the revisions to last month’s numbers were extraordinary bullish

Apple became astonishingly volatile leading up to the release of the “New iPad”. Since there is so much retail interest in this stock, it is susceptible to manipulation by irrational individuals.

My theory is people anticipated “buy the rumor, sell the news” because AAPL usually follows that playbook when it releases new products. Pre-event selling pressure was amplified by more irrational selling when the “New iPad” wasn’t called iPad 3. The same airheads sold  AAPL when iPhone 4S wasn’t titled iPhone 5.

My timing for covering FSLR on Thursday was sublime. Now I am anticipating my next short. Short squeezes can get ugly, just take a look at Sears.

Speaking of SHLD, the short side looks good right now. I would prefer to buy some puts but they are ridiculously expensive. Clearly no one in the option’s market is bullish on this stock.

I got long FCX last week. Copper has been going up since Wednesday and it’s frustrating to see FCX diverging from its performance. I will not tolerate this much longer.

Unless you think Israel will attack Iran soon, buy some stocks, sit back and relax. This is a bull market, you know.

www.GreedyPicks.com

Please offer your suggestions…

I lost interest shorting this stock because it stopped going down over 5% everyday.

Decided to dive back into the volatile mining behemoth today. I could very well be a bit early on this trade but the stock is simply oversold and I am looking for an immediate bounce.

Got long BID and KORS

Got Short FSLR once again

Thats all folks… Get some.

Towards the end of the day I closed out of my  FSLR short. There is no doubt in my mind this company will eventually fall to zero. I am just scared of an immediate short squeeze.

I decided to buy GILD, this stock was very oversold not too long ago and seems to be making a nice recovery.

As The Fly pointed out, BID was very attractive yesterday and clearly oversold. Kicking myself all day over not capitalizing.

BOT TZA

Sold FCX & DUK

Sold 1/2 AAPL

Shorted FSLR

Market looks tired. A decent GDP number and Chicago PMI can not lift the market.

I sold out of USO because I was on the wrong side of the oil trade. Cutting losing trades before they get out of control is one principal of my trading strategy. Not very original, so many great traders preach that.

WikiLeaks published an Israeli email from the Ministry of Defense that reports- Israeli commandos, along with Kurdish fighters destroyed a significant portion of Iran’s nuclear installations last year. Maybe we do not need to start WW3 right now.

At every end is a new beginning. I traded the former USO capital into The Genuine Parts Company. By my calculations, GPC shares are intrinsically worth $80.

I added 15% more AAPL shares to my position. Press your winners, cut your losers.

www.GreedyPicks.com

For the most part this rally is an employment story. If numbers continue to show signs of progress the market will have more fuel to propel higher.

Rising gas prices will eventually pinch consumer spending. Rapid job growth will be needed to trump this factor to support the bull’s thesis.

Another impediment to the bull market will be the debt ceiling debate. Yes, it is going to resurface faster than we thought. According to a Bi-partisan committee it may be around November. Blame can be attributed to a few things: payroll tax holiday, extension of unemployment benefits, and a delay in pay cuts to Medicare doctors. [Link]

Iran continues to enrich uranium says the International Atomic Energy Agency. [Link] Getting long oil is really just for sport and impossible to win. The most optimum outcome of the trade would be war, which will result in a Chinese Intercontinental nuclear war head dropping over the Tri-State area, killing me and evaporating my profits.

In Mexico City, the G20 has been working on a assembling a $2 trillion rescue package to stop Europe’s debt crisis. That is a bazooka. [Link]

I am thinking about getting long GPC, price seems attractive.

GILD could also be in play.

Portfolio is currently 76% long with positions in: AAPL ALXN DLTR DUK FCX GOOG LO UNP USO VFC

www.GreedyPicks.com