Wednesday, June 6, 2012

NEW positions.

The markets rallied hard today off of news that Europe may attempt some type of bailout.  I'm not buying the butter flys and rainbow.   I used the rally to take a number of positions.

I had previously had been long DFS but got stopped out after the breakout failed.  Failed breakouts usually make great shorts and so i went short after today's rally.  I got filled on 100 shares.  I had some additional orders incase the rally went higher but I didn't get filled.  So I'll use this as a test position.

FB had a big rally this afternoon  after languishing most of the morning.   I have a position for a small move. Short 100 at 26.88
 ON MAKO I went long.  as it looks like it put in a bottom after a major gap.   Its traded higher but still close to the lows which makes a nice place to put a stop and a decent risk to reward trade.  Long 250 at 22.97
 I also went long Oil via the USO ETF.  Similar to Mako there appears to be a rally off a bottom, which  allows a tight stop.  USO has been prone to "V" shape recovers so here's hopping.

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