Tuesday, February 24, 2009

Flat and...Free


Nice rush higher.

I took profits on the GS/AAPL trades long, after selling the LOPE earlier (unloaded LOPE only because others in that group were breaking down again today).

I am very light now overall, and slightly net-long (call it mkt neutral). I think this market will need to probe a bit, but I'm not exactly confident either way (Momentarily!). I don't want to fight a re-trace higher, since those can be so wicked, but I'm not so bullish in the near term that I wasn't going to sell into an emotional thrust higher.

Hence, I'm perusing issues of Hunt and Garter and considering a new tour of the low seas to get in some much bleeded RnR; we'll see. I'll hang around to trade long again in the last hour if the power is still holding up.

Currenty long (according to size): ATHN, MYGN

Currently Short (according to size): AEM, SGY

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