I sold out of CLF and TRLA today, booking two solid wins.
I added to my RBCN long which has come under fire since I purchased the iPhone sapphire news spike yesterday. Today felt like it was designed specifically to extinguish the weak hands that tagged onto the name during the AAPL WWDC. By 10am I was already -5.5% on the trade. Should the tide wash in, pressing the stock higher, the huge short interest in RBCN will enjoy the bloodiest squeeze yet. This short bus is crowded and the stock is trending higher (Read: combustion).
I bought the indecision in EXK because I see it as a low risk entry into a very violent market. Should we see strength in metals, EXK will beat shorts back into their holes. If it trades lower, it’s an easy trade to cut.
I still like SKF as I mentioned earlier. But it won’t take much more to shake me out.
I’m quite enjoying my $25 dollar cost basis in the finger banging bandit $FB. Well done Mark. The Facebook traded to all time highs today.
LED technology is alive and well, flexing its muscles a bit via LYTS which is up over 10 percent on strong forward looking statements. Their canopy lighting is crushing. You know, gas station lights. Petro stations are a huge beneficiary from LEDs because they keep their lights on nearly 24/7 and the LED gives a cleaner and safer glow.
Trading futures went well today. I’ve been giving more focus to the Euro dollar via the /6e because chessNwine and I have aligned vision on the trend. That has given me confidence, and using Bossram Alpha I managed to extract 0.0022 from the /6E today. I took another 1.50 out of the S&P manually. Elroi took a 1.75 handle winner on the long side when I least expected it, and as I write is slightly underwater on a short. It looks like a victory for the humans today.
Top picks into tomorrow? Why they are my two largest positions, of course: SKF and RBCN
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