Friday, April 23, 2010

Bookkeeping: Adding to Skyworks Solutions (SWKS)

This might be a short term play but Skyworks Solutions (SWKS) has not been acting "great" and has pulled back to the 50 day moving average so I am going to add a 1% allocation around $15.50.   Another stock that is sitting right on or above its 50 day moving average, I can use the low of Thursday as a stop out level.  The other issue is the company reports on the 29th so I might sell (if a bounce ensues between now and then) simply to reduce exposure going into the always tricky earnings.  But we'll buy for now and see what the next few days brings.

I also added some SPY calls and TNA in anticipation of Magical Monday.  One Monday this year I expect this trade to crush people, but until then everyone will keep playing it.

Long Skyworks Solutions in fund; no personal position

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