Tag Archives: Lscrx

Correction or Reserval?

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DOW dropped 185.58 to 8493.39 below 8500. NASDAQ closed @ 1492.77 below 1500 and Russel 2000 closed @ 408.32.

LOW dropped almost 9% due to lower than forcasted revenue. The short position opened Friday went up more than 130%!

SOHU closed with bearish harami candle posing to reverse at almost twice of average volume.

MSFT broke down the trading range and support level is @24. The long position will be opened @24 level.

Support level IBM @ 85 and CSCO @ 15.5.

OAKMX and LSCRX: the remaining positions will be closed tomorrow.

Fear & Greed

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There was a big sell off this morning on LOWS. My put position finally turned positive. Out of fear that it might bounce back, half position was closed at small gain. Yet, looking at the daily chart, it’s likely that it may test 50 SMA. It’s still closed lower than the open. The greedy side of me decided to keep the rest of the position. In hindsight, keeping 1/3 position might be better idea or taking the profit by closing the position entirely. Let’s see how it goes tomorrow.

Long GSF May 20C; added SLB May 40P.

OAKMX: it’s still in the short-term uptrend since its breakout of long-term downtrend. Resistence at 31.55.

LSCRX: it’s right at resistence and overbought condition.

Swing Trades 401(k) Portfolio

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I learned from co-worker that our company’s 401(k) plan allows end-of-day trading. Previously I thought it would only post transactions once every month, which would make swing trade very hard. My plan is to select a few mutual funds as trading vehicles and swing trade them. Holding time will be weeks or months. The goal is to catch big trends. All cashes will be swept into GIC fund accruing interest daily.

Sold 30% position on OAKMX at DOW resistence level 8500; OAKMX follows DOW closely; sell 1/2 position at next level 8700-8800 or if current uptrend reverses.

Hold LSCRX which follows RUT closely. It’s still in uptrend.