ACN Analysis
Pros: Has a nice cup/handle up and at the bottom of the channel. Tim Knight likes it (at this moment?)
Cons: Market looking like it wants a downturn. Why? Just my gut feeling.
Disclosure Long, Stop at 47.21
FXI Analysis
Disclosure I’m Long
Pros: China hype? Everyone buy Chinese stocks, growth growth = cash cash
Cons: 50 MA is getting in the way
I have a stop at 43.66
Short Tech (QQQQ)! CES Almost Over?
Buy on Hype (I forgot to do that)! Should of thought of this during Christmas/New Years time. NVDA, QCOM pretty much any NASDAQ stock went up. Once CES is over Jan 10th, I say short QQQQ. Apple reports Jan 11th if you want all the tech news out of the way. Sell on NEWS!
(Photos from boing boing)
Pull back coming?
I’ve been either choosing to close some of my positions or getting stopped out of them. Just a hunch but I think the market is going to go down from here after the jobs report. Retailers (LIZ, TGT,KSS,GPS,M) aren’t reporting good numbers, CES hype is going to be over in a week (Goodbye QQQQ?) and small caps IWM well, I don’t really have a reason except it just looks like it needs to go down.
Closed positions
- FLR (profit)
- IWM (profit)
- LULU (profit)
- MAR (profit)
- TLT (profit)
- CSTR (profit)
- DLR (loss)
Currently I have these long positions
- CSCO
- FXI
- CAVM
- MA
- ACN
- USO
- C
- ASML
Short positions
- BEN
- AMMD
On the watch long
- BOLT
- QCOM
- VE
- TLT
- BEE
- TGI
On the watch short
- CMG
- AIZ
- QQQQ
- IWM
- GOOG
Initial 2011 Predictions
Not sure how the stock market will react when the new year starts. My gut feeling is that the market will continue higher as news will review 2010 as positive, with 7% gains in Dow Jones, S&P 500 and 17% gains in Small Caps. However, after the initial couple weeks, I think things might start falling apart starting with the more expensive stocks (with high P/Es) such as NFLX, CMG, and CRM which already been showing weakness.
Currently I have these long positions
- FLR
- IWM
- CSCO
- LULU
- MAR
- FXI
- CAVM
- MA
- TLT
Shorts
- CSTR
- DLR
On the watch long
- BOLT
- BP
- ACN
- PCX
On the watch short
- BEN
- CMG
I do get most of my ideas reading Slope Of Hope. I hope when I get better at trading/investing, I will be able to show you some of my own plays.
Welcome!
Here is where I like to discuss my stock trades (good and bad) and hopefully learn more about myself as this blog tracks my every thought!