I used today’s weakness to take some small positions in stocks from my primary watchlist:
I bought 200 shares of TBSI at $37.34
I bought 200 shares of OII at $71.25
I bought 200 shares of FWLT at $125.75
I bought 200 shares of AGU at $48.75
I bought 100 shares of GRMN at $105.50.
A reader asked me where I placed my stops for UA and SWHC. UA is under the 50 day moving average ($60), while SWHC is around $18.75.
I will most likely trim some existing positions today. I am mostly long momentum stocks right now, which could be risky going into the Fed meeting.
Thanks for the stop information on UA and SWHC, I think those are solid.>>Have to disagree with you on GRMN. It’s actually one of my biggest short positions. >>The chart is showing it running out of steam a la CROX. In addition they are catching some flak (article in WSJ over the weekend) as competition from cell phone GPS applications is threatening to erode their margins and threaten their growth prospects.>>I think you were wise to just get 100 shares, we’ll see what happens…>>Couldn’t agree with you more on trimming some positions today. Good thing to do with longs and shorts, as the market will be all over the place tomorrow.>>>TC – The Critic
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Oops, forgot to mention my favorite long today.>>Check out FCSX, buy point around 48.3.>>>TC
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You are a brave man to be placing sizeable bets ahead of a random event that could move the market +/- 300 pts , and no one knows which way 🙂>>Good luck!
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did you see the coals I mentioned Friday? Still strong>>CNX, BTU, ACI… prefer them in that order
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