Tuesday, September 28, 2010

Updated Position (long and wrong suits me still)

While this post updates my current position, I've been firing in and out and increasing/decreasing numerous names lately. The below list will not likely remain current for any length of minutes.

Follow Centrifugal to fade trades in real time - now more than ever!

A note to email subscribers - I have no idea how or why the June 4th Butterfly Punch post was just delivered. I have fat fingers, certainly, but I wasn't anywhere near a page that could have caused this. Apologies.

Back to NFLX, I have not attacked short since my weekend post, but I did manage to bag a minor flash-crash of success hedging with AAPL instead (from into yesterday's close to a minute into today's open). I'm not particularly bearish on AAPL (not yet!), but it is such a strong name that to trade it short (at this point in time), you really have to cover on a slice lower. Until something more fundamental begins to disturb the stock, slice-lows will be nothing more than the latest buy-opp. This was the point I'm making in NFLX (if you trade it short, cover on any significant slice), but with Netflix I am looking to get myself long again on such a slice; not the case for me with AAPL (I'll let the entire investing universe make the further money on that one. And I'm keen to get short with a core holding there once I can justify it technically; call me a fool).

And a quick note to traders ripping gains lately by jamming the leadership names long. Yes yes, you are genius, but don't stop to remind yourself of that. Those very super intelligent trades you've been scoring move through you, not from you. I say this because self adulation in this game leads to a whack on the skull. Kisses.

Rock on - 7PM!

Total Position: Currently 3.43-to-1 net-long, 95% invested

Currently Long (according to size):
ULTA (7.3%); WLL (7.2%); VPHM (7.1%); CRM (7.1%); TRW (7.1%); NTGR (6.8%); BVN (6.7%); ORCL (6.6%); EWS-Singapore (5.6%); RJI (4.3%) MCP (trading frequently, now light w/ 4.1%); RLD (added yesterday, thin and will not hold w close below 17.60, 4.1%); QLIK (thin, added today, 3.6%)

Currently Short: QID-long (Nasdaq 100 2x's-short, added today, 6.9%); HK (6.1%); DISH (5%)
Note: Inverse ETF (QID) currently weighted @1.65 x's towards long/short calculation

Futures: no current position

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