Indices are UP on news of Europe resolve in solving debt issues......
S&P 500 went to 1256.39 so far......
Internals are positive by a strong 5 to 1.....
RSI is 62.99
Oil UP $4.22
Gold UP $14.90
Canadian $ UP 33 tick @ 99.64
VIX Down 6.8% @ 29.19
In my portfolio :
Sold TLM
Short CLF @ $62.69
Short ULTA @ $69.70
Short JCP @ $34.23
I have allocated 38% exposure to my short, first time i am trying short......
Here is how i have weighted my short position :
ULTA 41.13%
CLF 41.09%
JCP 17.78%
As you can see only JCP is positive for me.......
I may close short position based on how i am interpreting this market.....could be Tuesday could be longer.....
Most stocks are UP
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
I am long both CLF and ULTA, but I can understand the short arguments also.
Good luck with your theses--may neither of us get hurt too badly! :)
Stocktrader
Hi Stocktrader,
As it is my first time shorting, i am just throwing dart..with volatility in focus....
I shorted too early in CLF & ULTA..paying with loss so far....
IF i wmake money OVERALL..i will be happy...maybe beginners luck will play a role?
Saleem
Saleem
J Cramer is his book talks about separate accounts for shorting --- which I am not sure about the detail as I have been long all my life
the deep in money call for apple was a first for me
I believe in beginners luck
I went spear fishing for the first time (long time ago and got the biggest fish caught that day)
never know.
Good luck
Hi C,
I had set up shorting account about 2yrs ago...today is the first use of that account.
Hoping for a productive outcome...
Saleem
Saleem,
NFLX is on sales! We may be positive on our shorts tomorrow.
Michael
Hi Michael,
Our shorts should be positive Tuesday as markets are "overbought"..
Wed could be "sell on the news"
Let us see what happens T & W..
Saleem
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