The Yen walked down the stairs lockstep with the SPY rise, like mirrors of one another—starting around lunchtime, which pleases me.
Anytime I trade counter-trend, taking a high quality and back tested setup, and I extract money from the market, I feel like I’m getting away with a sophisticated robbery. I did it to EXK last week and over the last few weeks I’ve done the same long the Japanese Yen. Now I’m out and a heavy hand is walking the currency lower. This gives today’s move a carry feel and suggest we need to keep the carry not in the forefront but more so the back burner of our mind as we progress.
Solar stocks are getting the back ally beat down like they were flashing too much swag in the hood, which they were. However, YGE is Bruce Lee, water, and deflected the aggressive bear bludgeons with finesse. They put out positive guidance before the bell that had everyone a bit taken aback because they suggested shipments growth was “significantly better” than expected. So they’re not jawboning about their FUCKING LEADS, like FSLR, they’re talking shipped product. They’re shipping that Hanna Montana like Rick Ross, from the Phantom.
RVLT is cooling off a bit post earnings and I’m sitting here wondering if I’m about to get AMBA’d aka ambushed by sellers. So I’m holding back the additional capital I intend to commit to this name. But rest assured, I intend to own many more shares of RVLT before the year is through. CREE on the other hand continues to rise, wall of worrying the old men on the sideline. In other LED news, RBCN spiked lower after reporting unimpressive revenues but the dip was bought.
My only action today was to take a small position in USU. I’m playing hot potato with a nuke in this name, but I figure I hate solar so much I might as well diversify my energy holdings.
Here’s my book of energy-type stocks, largest to smallest:
YGE, USU, KWK, BPZ
Goldman caught a nasty fade into the bell, I’m not sure how I feel about it, obviously I would have preferred some follow through since it’s my largest holding. We’re practically back to my cost basis and all I have to show for it is the lint in my pocket as no scales were taken.
For in the futures I took one scalp, to the short side, in the middle of that big afternoon move higher. I earned a modest $62.50.
My swing book made almost a percent today. At one point it was up nearly 2 percent. Cash level is 25 percent.
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