Feb

12

Sold HZO puts, adding more CHCG

February 12, 2008 | 1 Comment

This morning I decided to sell my remaining position in HZO puts at a premium of $1.95. After seeing this quarter’s results and the reaction to the numbers, I’m beginning to think that while the fundamentals remain bad here, the bulk of the downside is already priced in.

Additionally, I continued to add to my position in CHCG, increasing the position by about 30% at $2.69. I’m now beginning to really stake a claim here, simply because […]

Continue Reading Sold HZO puts, adding more CHCG

Jan

31

Taking on more risk

January 31, 2008 | Leave a Comment

This morning I decided to make a few moves to take on a bit more risk on the long side. From where I sit, it looks like the market is having a minor freakout over the jobless claims numbers, and I don’t think it is warranted. I’m viewing this as a final shakeout of the last few sellers before we can go challenge the resistance levels up ahead. Therefore, I made several moves this morning.

Sells

HZO puts–I sold […]

Continue Reading Taking on more risk

Dec

28

Covered MS, HZO, sold SPY Jan 146 puts

December 28, 2007 | Leave a Comment

This afternoon I decided to pull the plug on the bulk of my short positions by covering MS at $52.96, HZO at $15.17, and selling my SPY Jan 146 puts at a premium of $1.94. By about 3.20pm it became clear that today’s weakness was not going to accelerate significantly in the last hour of the trading day, and therefore, I decided to take some tax losses in my MS short. A bit of patience allowed me to […]

Continue Reading Covered MS, HZO, sold SPY Jan 146 puts

Dec

18

Increasing short on HZO

December 18, 2007 | Leave a Comment

Today I decided to increase my short on HZO by 50% at a price of $15.51. We are getting closer to earnings that I expect to be pretty terrible. Additionally, there was some pretty significant distribution yesterday at the close, which has me thinking that there are still plenty of positions out there that people are looking to exit.

Dec

11

Taking profits and getting short

December 11, 2007 | 1 Comment

This afternoon I decided to put on my selling shoes and exit a number of my long positions. In addition, I got short in a hurry as we broke through the 1490 level on the S&P. In the past few days, I have continually noted that while the market was rising and things were looking decent, we had yet to see volume return to the market on the up days. That negative divergence was the key piece […]

Continue Reading Taking profits and getting short

Nov

28

Jumping in on the long side

November 28, 2007 | 3 Comments

Today I decided to jump in on the long side in a number of names. I’m just going to cut to the chase and go down my list of buys.

AVAV at 23.42 because the company continues to get military orders and is ramping up its green energy segments

CEUA at 4.71 because upcoming investor conference might finally put this on the radar

CAGC at 2.88 because China needs non-chemical fertilizer and the stock is dirt cheap

CNEH at 2.20 because it is […]

Continue Reading Jumping in on the long side

Nov

1

Covering KFED, rotating money to HZO and BC

November 1, 2007 | Leave a Comment

This morning I decided to cover my short in KFED at $12.70. I still believe there is going to be problems for KFED going forward, but I see bigger opportunities elsewhere at the moment, so I want to free up some capital.

I’ve taken the proceeds from my KFED trade to opportunistically enter a new short position in HZO at $14.97. I covered the position yesterday in anticipation of bump on good earnings, and that is just what happened. […]

Continue Reading Covering KFED, rotating money to HZO and BC

Oct

31

Covered HZO at $14.21

October 31, 2007 | Leave a Comment

I decided to cover my short in HZO at the close. Earnings come out tomorrow morning and I just didn’t like the way the stock was acting. I don’t really have much of a fundamental reason for closing the trade, but the stock’s ability to rebound from its lows into the close had me worried about the potential for the company to beat estimates. My portfolio has posted some nice gains over the last few days, and […]

Continue Reading Covered HZO at $14.21

Oct

26

Sold NLY, Increasing short position in KFED, reinstituting short in HZO

October 26, 2007 | Leave a Comment

This afternoon I decided to sell the rest of my position in NLY at $17.09. I like the company as a rate cut play, but I’ve caught a nice move here, and there are more fun places to play from a volatility perspective here.

In addition, I decided to double my short position in KFED at $13.83. I’m going to write in more detail about KFED shortly, but in the meantime, I highly encourage people to take a […]

Continue Reading Sold NLY, Increasing short position in KFED, reinstituting short in HZO

Oct

8

Daily Market Wrap 08OCT07

October 8, 2007 | Leave a Comment

Today was a fairly quiet day of trading, so I will be brief in my comments. First, I decided to double my short position in HZO this afternoon at $15.74. I stand by my research here, and with the recent run in the stock, now seems like a solid time to average up.

Second, I established a sizable position in CMTY, which is set to be bought out by Susquehanna Bancshares for $34 per share. The deal […]

Continue Reading Daily Market Wrap 08OCT07

keep looking »