Tuesday, July 28, 2009

Added Long (and Mount Deer Doom avoided)

Outside of the Chinese growth stocks, the market showed further resilience yesterday and I'm buying in some on today's early weakness. Nothing too extreme and I've spread-out now between 4 leadership groups.

Trades here are still being fed live via my Twitter page; while commentary on this side remains subdued.

As for the Chinese internet-content/video-gamer names yesterday, in the end action there was suspect at best. CYOU's The Duke of Mount Deer release-date will be delayed, God forbid, and the name remains under pressure. I'm not yet against it, but I've yet to reload any trigger there. While they have yet to break anything significant, volume has been heavy on the decline.

Total Position: 100% net-long, 28% invested

Currently Long (according to size): MRVL (8.2%), BIDU (7.1%), GS (7%), NTAP (5.9%)

Currently Short (according to size):
no current position

Monday, July 27, 2009

CYOU (wouldn't want to be you)


While a pullback may be in the cards short term, or not, it is clear the market is still behaving well...for now.

That may seem a fairly useless statement, but I've little reason to pretend to know more than the most basic truths about this business. The older I get (I am ancient you know) the less I care what I think about any tomorrow. I prefer being 1-step behind, and simply responding.

Ignorance is under-rated.

I'm still out of the country, but looking to swing-trade any reasonable set-ups (long) this week; from a variety of leadership groups. Clearly it is the Chinese growth names which remain the predominate leaders; and within that spectrum it is the Internet Content names which are hottest; and within that group it is the video gaming providers who've cornered their market (see illustration above).

Still!

That means watching the action on CYOU today (reported this AM) and neighbors from the group (NTES, PWRD and SNDA), will be a highlight. CYOU is a volatile leader and before last week it really had never done anything in its young history to concern me. But we saw major-volume selling last week and I am out for now. At the same time I am keen to get involved again if it digests today's report well (and the market and the group remain live, etc.).

Elsewhere, I'm going to try and trade out of BIDU on the up-open here (if it can jack more than a few points), but I see no reason no to then get back aboard on the first reasonable set-up. The price-target was raised there today by Citigroup, which may make for a crafty short-term exit on a gap-up, following the huge day from BIDU on Friday.

Total Position: 100% net-long, 13% invested

Currently Long (according to size): BIDU (7.2%), NTAP (5.8%)

Currently Short (according to size):
no current position

Futures Accounts: no current position

Friday, July 24, 2009

Quicknote

Laying low today, after unloading nearly everything yesterday. Will research over the weekend and decide how to proceed. Only BIDU and NTAP long here at moment.

Total Position: 100% net-long, 12.9% invested

Currently Long (according to size): BIDU (7.2%), NTAP (5.7%)

Currently Short (according to size):
no current position

Futures Accounts: no current position

Monday, July 20, 2009

Preachy Keen

While I remain committed to blogging very little, the market refuses to let me rest.

I could log my 1000 complaints, except the moves out there are sick; multiple breakouts into and out of earnings reports, and few appear to be failing. I will keep it quiet and just keep trading.

Outside it is beautiful here. Big nature in a million small packages. The Tour starts again today and that will also provide distraction. If you are one of the majority who is rooting for Armstrong to fail and pining every angle for which to criticize, I suggest holding a higher opinion of yourself.

Greatness has a history of being criticized by the rest of us.


Total Position: 100% net-long, 54% invested

Currently Long (according to size): BIDU (9.9%), CYOU (9.1%), EWT (7.3%), MRVL (6.7%), SNDA (6.4%), NTAP (5.4%), TSRA (5%), FFIV (4.9%)

Currently Short (according to size):
no current position

Futures Accounts: no current position

same boring location

Friday, July 17, 2009

Movement


I'm still on holiday, but vacation or not I still answer to the market. And the market has been rumbling. The quality of this rally looks compelling enough to get involved and to a reasonable degree I have.

Being on vacation though means I am not following things minute-to-minute (I have been known to leave the house on occasion); my system is victim to internet outages (a result of some tremendous thunder storms these last 2 days); and my other system is prone to indulging in large quantities of food and drink (the market is open well past vodka-and-oyster hour in this time zone); and other things.

At least I refuse to write!

Total Position: 100% net-long, 41% invested

Currently Long (according to size): EWT (7.1%), MRVL (6.5%), BIDU (6.4%), SNDA (6.1%), CYOU (5.5%), NTAP (5.4%), TLEO (3.6%)

Currently Short (according to size):
no current position

Futures Accounts: no current position

Monday, July 13, 2009

Le Update

I'm still here, but laying low - decompressing in fine French fashion. While today may begin to show different, nothing in the action of the market has been too terribly inspiring and that has suited my vacationing mind quite well.

There are plenty of strong charts out there still and I wouldn't be surprised if we turned higher soon, but I need the market to manage something of a short-term low before getting involved. I am okay with missing the beginning of a rally, when and if something ensues, and I'm not interested in taking on shorts if things worsen; being on holiday.

If I were a nicer guy or on a normal schedule, I would list the leadership stocks I currently consider best poised. No such luck for you in the month of July, however. Get a haircut, go outside and I'll continue to rest-up and write but little; though I will convey new trades via Twitter.

Also, for the few who expected entertainment whilst I was away, I clearly mismanaged expectations. I've been much busier doing nothing than I ever realized. That may get flowing soon, but don't get too eager when you reload this page; I'm capable of disappointing your kind even longer.

Regarding my position I still have PEET (3.7%) and MRVL (3.4%) long, which refused so far to stop me out. As well, I just added 6.66% long EWT long, but this is more of an intermediate-term play and not a trade (assuming nothing dramatically negative develops in the Asian markets).

Don't do what I do, but I'm still keen on buying Asia on pullbacks. Taiwan in this case.