Thursday, June 25, 2009

Quarter End Markup Time and Position Updates, Trading Calls (SDS, DGW, TBT)

No need to worry about anything other than getting those prices higher for the quarterly statements... then we can let her fall again.

Don't mention the OIH as it is up another $3 today (I would have been a seller between 99/100 though if I had bought). I previously noted my misplay on this ETF as I was planning to own it into the quarter end just for this reason.

Going to take a daytrade small long in the SDS (2x short S&P 500) here at 55.62 stop about 60 cents below at 54.99, just playing the odds that we come back in before the end of the day. Update: Taking the 35 cent gain here at 3:45 on this daytrade.

Also, don't talk much about smaller caps here as I will probably start another blog for that (and keep this one more macro focused), but did take a new long in DGW - Duoyuan Global Water Inc. (IPO'ed yesterday, China water filtration play, small float. Valuation here only OK, but potential is huge and momo traders could jump on it). Bought at average price today and yesterday of 21.65 stop under 20 on this one.

Update from previous days - stopped out the rest of my TBT on this move up in bonds (still own my core short in TLT). Ended up with about a scratch from the profitable piece I took yesterday and the stop out price on the rest. Today people are seeking the safety of stocks, bond, commodities? what? just buying stuff - I guess. Certainly feels like window dressing into quarter end to me. Still, should have played it better as this up move is not completely unexpected for me so should have had some more longs in sectors I like to offset my short market exposure.

Check back multiple times a day because I will post all my new positions in real time (even the small caps) - also, you need to revisit the posts where I make the initial call (during the trading day) because I may update my positions later with an update post inside of the original post that day. If I hold the position more than one day I will make a new post to indicate if I have exited the position or changed the stop.

No comments:

Post a Comment

None of my content is a recommendation to buy or sell any securities.

Please do your own research or consult an advisor before making any investments.