Updated Position (cute bubbly longs)

I'm working on related postings, including Lecture-IV now for Battle, so I'm merely going to spit-out the updated position here. There has been more than enough activity lately to lose track.

Market action has kept cute and cuddly since the gap-higher Wednesday. I've continued to scale further long since the post that morning.

Fortunately for me, I remain an idiot.

Total Position: Currently 4.59-to-1 net-long, 110% invested
(into slight margin overnight; looking to resume under 100%

Currently Long (according to size): WLT (reloaded today, 9.2%); CRM (8.3%); NOV (7.5%); ARMH (increased today, 6.5%); ULTA (6.2%); WBC (6.2%); OVTI (6.1%); COH (6%); RVBD (re-increased today, 6%); ROSE (5.4%); PPO (reloaded today, 5.3%); FTNT (5.2%); IL (reduced today, 4.8%); SBUX (4%); TSLA (3.4%)

Currently Short: TNP (7.2%); RSH (reloaded today, 7%); DSX (reduced today, 5.5%)

Futures: no current position

Follow Centrifugal to fade trades in real time

Bearing the Pain

Bears are feeling it still. I don't want to be a bear as long as it looks like this.

Like it or not, the market is behaving well today; notably resilient on the heels of this week's blast-up.

I reduced yesterday's (new) shorts as a result, and while some of the exit points were poor relative to the day's range, these were presumed hedges; when they were closer to profitable I was holding out of necessity but ultimately unloaded when it was clear they couldn't hold their own water.

Accounts here are still positive today (so far) and this is because the leadership longs are making up for negative recent short trades.

That and a nice entry into DIOD long in the opening minutes.

These blaring-ugly trades can be laughed at via the Twittfit on the right >>> Notice how long my losses are held, relative to gainers. Even if I'm full-out pathetic with fresh-fires, I'm rarely ruined because I keep my broken clocks telling the right time and throw out anything worse.

If I brush aside everything I might think and simplify matters, the simple truth is that 1.) the market is consolidating softly and quietly, which is constructive action; while 2.) Bellwether GS has so far managed to re-take its 200-day moving average today (>115.27); and 3.) when I put on shorts it feels a lot like a pitchfork in my skull, while my long positions have been basically printing money.

That last part is relevant to me and I weight that that highly when analyzing protection, aggression and whether I'll be buying a last-minute plane deal to Boca Bora this weekend; get out to the water for alternative thrills and kills.

I'll be hunting more live longs by scouring the charts this weekend (from whatever location I find myself). The market still behaves like a bull at moment and I'll continue to treat it that way until the bears finally turn this fork around.

Last weekend's list of leadership longs can be viewed here in the meantime.

Total Position: 3.42-to-1 net long, 73% invested

Currently Long (according to size): RJI, PMCS, WNR, NFLX, ARST, CHKP, LFT, MYGN, MNRO, TSYS, DIOD, DRI, IOC

Currently Short (according to size): NTRS, RSH, ELOS, EGO

Quicknote (slight darkward shift)

I shifted away from my aggressive-long stance and into the general direction of neutral, ahead of the final trading hour and increasingly so into today's negative close.

Gone for now are GS and TSYS longs. New shorts included a healthy degree of JPM (7%), RSH (4.6%) and...

After the close I was able to grab another financial short, new Cramer-promo FMER (5% position); complete with a 4% premium to the closing price.

Praise be Cramer.

Futures are selling some tonight, as GM is apparently going goose eggs. Tomorrow will be interesting. I have a little protection now - if the market can't regain any strength within the first 90 minutes I'm returning to the dark side. Otherwise I'm content to let go of the new hedges and roll long with the in-crowd yet some more.

Worst case for me, financials rock higher while growth names get nailed early. That would start my new quarter off wrong.

Pimp my Twitt for all the finer details >>>

Total Position: 4-to-1 net long, 93% invested

Currently Long (according to size): MYGN, NFLX, ARST, RJI, MNRO, PMCS, WNR, SNDA, CHKP, NVLS, LFT, TNDM, DRI, IOC

Currently Short (according to size): JPM, FMER, RSH, EGO

Root Ripping Action (tape remains positive)

Today is perfect. Perfect and boring.

Perfect because the internals are clearly positive (again), my portfolio is flying, and yet the majors are only quietly higher. Having had my share of sharp sticks in the eyes, I can attest - this is better.

Obviously we see the market action only as it refers to our current position, right? If I were positioned short I should see today's action as ridiculous, unfounded and bound to fail any bar now, yes?

I say this because I know how easy it is to be subjective, to see every chart and move in the light which best justifies our (losing!) position. Bears know what I'm talking about.

Naturally, this defines me as some smug bull barker who is talking out of his ass and is going to have a new one torn very very soon and the only reason it hasn't happened yet is that I was saved again yesterday by the Plunge Protection Team (PPT), etc. etc.

Truth is, I'm never really bullish. I can say that with honesty, since I trained myself for years to hate all stocks. It's true - I hate them all. If I ever find myself getting sweet on a name, I immediately kick it out of the portfolio; not kidding.

In fact, I despise this entire game. If I could make a living, I'd rather have root canal! As it is I'll never have root canal because I hate dentists also - those shinny-toothed, silver-haired rats, gassed-up and rummaging inside endless rotten mouths with all that new dental technology. God I hate the dentists - let someone else have proper teeth.

Okay, I was lying to you just then about dentists. Those creeps are really nice beneath that graying skin, I am sure. But stocks I hate - long or short.

Don't fall in love with your position and/or outlook, my friend. That is the message.

Some note on my (dreaded) position: MYGN gapped-up on a 2-1 stock split. I sold at the open and bot back closer to the breakout pivot. I am happy to continue with this name above that pivot of 44.20; SNDA gave me a re-entry long as it was downgraded by a small firm. I'm re-building this one (sold yesterday), beginning at the 10-day and scaling-in higher (still small, 3.4% at this writing. Note, I scale-in higher, not lower); TSYS is attempting to breakout and I reloaded that one again long. This one a bit thin, but today's volume is running > 2x's normal and rising from yesterday's rising vol. I will not hold this at the close if below the 9.93 pivot; ARST, which I loathe to hold already is attempting a breakout. I would be initiating long here, but I have already a 7.7% position and may not increase, depending; RSH, which I re-entered short yesterday is ramming higher on the heels of BBY's blast-up. I'm holding in so far, content to use the 50-day MA as a bench on closing basis (currently 10.02). If it's to close slightly above that level, but volume remains low and not rising > yesterday, I will take it overnight anyway; Oh yeah, I was able to finish Cramer fade EGO, short in the premkt >9.60 ave. Scroll to previous post for full monty on someone i love - JC.

Refer to the Twitt-trough for keeping up with my hated trades. Good luck out there.

Total Position: currently 3.14-to-1 net long, (86.5% invested)

Currently Long (according to size): RJI, MYGN, ARST, GS, TSYS, PMCS, WNR, MNRO, IOC, SNDA

Currently Short (according to size): AXA, RSH, EGO, ELOS