- Energy Conversion Devices (ENER) bounced from $59s to $69s - I'm have a devil of a time logging into Marketocracy.com this morning so I cut some in the $67s
- James River Coal (JRCC) which was more of a trading position from $40 to $48, I cut some in $46s (unable to log in when I wanted to)
- Cleveland Cliffs (CLF) from $92 to $100, I cut some in the $99s
- Canadian Solar (CSIQ) from $30 to $36 (some contract announcements this morning) and now it approaches what was formerly support at $36 as resistance. I could not log on when I wanted to so sold some just below $35.
General thoughts today - this bounce is tepid and disappointing. S&P 1275 has now turned from support to resistance. The financials have turned over again - disappointing. Finally the natural gas and oil stocks are withering as we had predicted would be the last to fall so our Ultrashort is working there.
Long all names in fund; long none in personal account
2 comments:
I'm having a hell of a time, trying to manage my positions now. I'm also in the process of cutting out non-core positions for cash.
Argee, that the market is sickly, and I still cant rule out the V style bottom.
DUG is finally kicking in, and I actually added there. Maybe we get a coal/steel type action there, if oil sells off. I think that would mark a bottom in the early cycle stocks. Still holding all my SMN, but I'm not really short the area anymore, with the recent addition of some coal names. Nice move, making some gains on that bounce;D
Financials still ugly, but I'm tempted for a contrarian play there. But I'll buy on a technical signal, for that one.
Honestly, I have no idea how you can manage so many positions. I have enough trouble with about 10.
Frustrated as heck today. Could not log in almost all morning. I wanted to increase shorts in indexes and DUG on that spike this AM and could not. Even the 5 transactions I did do, took about an hour.
All the marketocracy.com sign in page did all morning was refresh and never sign me in.
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