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
Friday, April 23, 2010
Bookkeeping: Adding to Skyworks Solutions (SWKS)
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows