On the run today so I won't get to post until probably this evening. But just updating some of you with my plays.
I am out of UAUA at 10.35 on a sell trigger. Boom baby, now that's some fast money. 15% in two days doesn't get any better than that.
Sitting tight on the rest of my positions though. Great day in the markets. Hope you guys get to take full advantage of it.
Talk to yall soon
- DL
Disclosure
Long GOOG, 75%v, 75%PWRD, 166% JCG
Short USO
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13 comments:
Xman, you gotta take a look at SQM,MON and TRA. They're smokin'!
It looks like a break out, or reversal from the downtrend. Very strong action. Plus, no tank job near 3pm.
Lets check with xman for his expert opinion on the markets direction trend.
One of those rare days were everything is up, except the bastard stocks (GRMN, ABK, etc)
Anyone think GNK has a similar pattern to PWRD in regard to a massive sell-off with limited downside potential? It's one of the dry bulk shippers, great fundamentals, but those stocks are super volatile.
GNK is a "head and shoulders top" formation, like all the dry shippers.
Look at the charts.
It will be a nice one to short eventually. It wont make it pass $72.
in and out of UAUA today. Good call XMAN!!!
XMAN.
Is this a good place to get in V?
sorry for late responses guys...just got home at midnight PST. Been a long day.
Marketm,
I will definitely check those out. Ya everything was pretty much on fire today. But let's see if your picks still have room for me to play or have I already missed the ride.
hahighbaby, I think after tomorrow we can get a better idea of the market trend. I have to admit today (or yesterday's) mega push in the market was very unexpected. I thought we would get a bounce but I'll be honest I didn't think we would bounce this hard. The shorts basically had nowhere to run and when the markets pulled back midday they were running for the exits. Let's see what the jobless claim will do for the markets tmw.
monkies,
I think the GNK pattern is a little diff than PWRD. GNK seems to tank steadily but rebounds steadily. PWRD is just massive moves up and down. But you are absolutely right they are volatile as hell. I remember dryships when it was at 130's+ last october and it just annihilated to what, 50 bucks before it rebounded? Ouch...and marketm may be right, I can kind of see a head and shoulders pattern forming too. I will be watching.
bassman,
You like that call ay? Hell ya I made a killing on that baby. I was in it for 1000 shares. $1350 bucks in a couple days ain't too shabby at all :)
As for Visa, the best time to have gotten in was last week man when it hit the 50DMA :) But it seems to have stretched out pretty far once again. You may want to wait for a pullback. Maybe at $83 if you want to do some short term plays.
Markets are hosed! Wow.
FRIDAY.
6/6
Whats the stop on PWRD?
damn markets are hosed bigtime. What a whipsaw from yesterday's high.
As for the stop on PWRD. If you are in it for the trade then watch for a break of the lows we made a few weeks ago ($23.62)
I'm not going to sell any of my positions though because I think for JCG and PWRD it's pretty much a bottom fished play. And even though JCG gave up literally all its gains I still believe it will have a strong bounce down the line.
PWRD is the same thing. It is a chinese video game stock has little to do with the US unemployment numbers. So I am staying with this as well.
But yea, looks like the air is going to be taken out of the market with this news...sad times for the US economy
if you're long stocks now and don't feel confident of what's to come then you have to either sell now, or you have to stay disciplined and prepare for the worst case scenario. Chances are, we're going to see the dow plunge huge today (maybe even 300+ points and beyond). It's definitely not out of the question.
just got some more PWRD and JCG.
Sticking with'em!
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