After breaking out last resistences, all indexes went down today although they were up for the week.
Long: SOHU (it’s forming a bull flag, trail 2 and sell limit @40), SUNW (stop @3.5) and HNP (trail 3).
Short: QQQ (Oct PUT, under water) and AMZN (Sep PUT) and XOM (Sep PUT). The AMZN and XOM puts are left over from previous hedges for closed SSF trades.
After breaking out last resistences, all indexes went down today although they were up for the week.
Long: SOHU (it’s forming a bull flag, trail 2 and sell limit @40), SUNW (stop @3.5) and HNP (trail 3).
Short: QQQ (Oct PUT, under water) and AMZN (Sep PUT) and XOM (Sep PUT). The AMZN and XOM puts are left over from previous hedges for closed SSF trades.
Slowly moving August is over. After this comming Labor Day week, trading volume should be picking up as traders return from their summer vacations. NASDAQ has reached new high and INDU and SPX are approaching its recent high respectively. All markets have done some base building, we will find out wheither or not they will break out or go down. Short term wise, it looks the market will move up a little. Short: QQQ Oct 32 Put (it’s not working obviously after QQQ’s big run up). Long: HNP (I have been waiting for opportunity to own some HNP shares), SUNW, SOHU and MSFT (SSF).
DOW closed @ 8,678.97. It’s still in the uptrend, but it seems stalled a little bit. Russel 2000 dropped to 414.69. NASDAQ closed @ 1,538.53. If it’s not topped, it’s close.
OAKMX: sold half of remaining position.
LSCRX: sold half of remaining position.
Bought puts on IBM, CSCO, SUNW, SOHU and LOW.
It looks like all indexes pause a little today.
SUNW continues to move up with heavy volume.
SOHU is at its peak (19.15) since IPO. It has made massive moves from the risk of delisting last year when it went under $1.