July 2012 Trading Thread

[highstakesfan]

You convinced me..... I shorted SPY @ $135.40 .... woohoo !

[JayTeeMe]

Originally Posted by highstakesfan

You convinced me..... I shorted SPY @ $135.40 .... woohoo !

You must not have read the June trading thread

[BluffingX]

S&P should go up today, since people expect more money to be injected into the economy because of bad retail sales and other signs of slowing economy. But there will be a huge sell off when nothing new is announced this week.

[savant111]

ULTA got bitched slap at the 20dma at 93.90.

Sold at 92.80. Would of sold higher, but I was in a meeting. It got rejected and was back in the 92's in 30 minutes.

Not a bad trade though +2.5%ish across both sells.

Careful Highstakesfan on the short. High risk entry imo. Technicals still holding up. Bernake testifying tomorrow, I think you have intel and Coke earnings tomorrow. Any kind of positive surprise is gonna pop the market. 135.40 seems like a high risk entry here. It might work out, but for me there is too much conflicting data going on to initiate new positions today on either side.

[berya]

Shorted QCOR today at around 43 with a an initial stop at 59 and initial target at 27.5. Holding time probably somewhere between 1-3 months. If it jumps to around 50-51 on earnings might add to the short.

[berya]

Originally Posted by berya

Shorted QCOR today at around 43 with a an initial stop at 59 and initial target at 27.5. Holding time probably somewhere between 1-3 months. If it jumps to around 50-51 on earnings might add to the short.

Also have been short OSIR since 11 initial stop 14.6 target just above 7. Both pharmaceuticals.

[highstakesfan]

Originally Posted by savant111

I think you have Intel and Coke earnings tomorrow. Any kind of positive surprise is gonna pop (the market)........

I expect weakish results from both, imo

http://finance.yahoo.com/q?s=intc&ql=1

http://finance.yahoo.com/q?s=ko&ql=1

.

[savant111]

Originally Posted by highstakesfan

I expect weakish results from both, imo

http://finance.yahoo.com/q?s=intc&ql=1

http://finance.yahoo.com/q?s=ko&ql=1

.

I agree, but so does the entire market. If you get a surprise to the upside in INTC of KO, the market has potential to pop.

My point was that there is a lot of data coming out this week and next that can move the market.

It would be better to go long in stocks that are in the bottom of there range or or short something at the top of it's range. The Spy is in the middle of it's range and more risky here. This is almost exactly what I did wrong in my SPY short last month. Only difference was I waited for Bernake to start speaking before I initiated the short. I would of been way better off at the time letting the SPY top before initiating the short or just pass on the trade if I missed it.

[savant111]

Need to leave for work.

Was pretty torn about what to do with AAPL. I put stop in to protect profits at 608.90. If it holds above that I'll carry it into tomorrow morning at least. Not sure if that's a good decision though.

[cky23k]

Originally Posted by cky23k

I have positions in BG @62.25, ZION @18.79 and HALO @8.75 (bought today). I'll probably hold these guys for another few days then liquidate.

Out of ZION @19.10. Protecting profits here, 1.6% in 2 days. This could easily go back up quickly, but I wanted to take some risk off the table.

Still holding BG and HALO. BG I'm going to liquidate either tomorrow or day after, probably wont make much on the trade.

[savant111]

Looks like I got stopped out of Aapl @ 608.31. About a 1.2% gain. Think I'm leaving some potential profits on the table.

[savant111]

I'll stay 100% cash tomorrow for sure.

Here is my preliminary long watchlist: CERN, DLTR, GTLS, ULTA, AAPL, WFM, WWWW, and (gulp) KORS. I like all of these to dip further before I'd get in.

[Zygote]

Originally Posted by BluffingX

S&P should go up today, since people expect more money to be injected into the economy because of bad retail sales and other signs of slowing economy. But there will be a huge sell off when nothing new is announced this week.

i'm banking on this too. i have puts on the s&p expiring end of week and am really banking on this.

my play the whole time was first to buy treasuries, which i did and sold at a good profit leading into where i was gonna short the S&P and hope for qe3 disappointments. I've been holding precious metals as a hedge against the possibility qe3 comes earlier than expected, and hoping they dont collapse as much equities should the disappointment arrive. Trouble is the Europe summit gave equities an unjustifiably large boost, imo, and they've held up on the qe3 hopes leading into this week's hearings and the early august FOMC meeting.

It would be unusual for the Fed to hint at qe3 yet when nothing of grand substance has changed since they just issued their last statement + economic assessments. QE3 is beyond inevitable but its either more time of this stall speed or another big dip in equities or economic data that will prompt its arrival.

[savant111]

Originally Posted by berya

Shorted QCOR today at around 43 with a an initial stop at 59 and initial target at 27.5. Holding time probably somewhere between 1-3 months. If it jumps to around 50-51 on earnings might add to the short.

Qcor is a pretty crazy. I know you don't like moving averages, but if it got back up to 10dma and reverses that would be a pretty good spot to add. (I probably would of waited for that for my original entry)

Good luck.

[savant111]

Originally Posted by Justine Bieber

any thoughts on AIG for a longterm investment 3-5 years? I know they got ****ed in 2008 but their margins look pretty good, low P/E, etc, what do you guys think of this as a long value play?

Thanks

Cramer was pimping it for a while. Haven't heard him mention it for a while. I took a look at it , but it wasn't my kind of stock.

I know that's not to helpful, but since no one else replied, I thought I'd answer.