We used to blog a lot more before Twitter (NYSE:TWTR). It seems that at least for us, both mediums draw from the same energy source. We tweet, and blogging suffers. But we used to do this “Random Musings” posts quite often and are looking to resume the tradition. So without further ado:
– as long as the Russell is outperforming the SPDR S&P 500 (ARCA:SPY) we are not worried. We are trying to keep things simple — 115 was our zone last week and the iShares Russell 2000 (ARCA:IWM) has defended it like a champ. If that goes, we go to cash.
– We’re long Tesla Motors (NASDAQ:TSLA) (average under 209, have sold day-trade part and swing stop now at 210) and First Solar (NASDAQ:FSLR) ( 66.5 swing with stop on 65 break) and depending on action tomorrow could add Keurig Green Mountain (NASDAQ:GMCR) and Sunedison (NYSE:SUNE).
– Theme here is solar/alt energy. They are right now the best looking sector along with energy and semis.
– If we had one indicator to choose from and nothing else it would be Bollinger Bands (standard deviation 1 and 2/20)
– Einhorn bubble stocks are inflating again but we can’t find any good set-ups there — but glad to have them back in the game.
– pretty interesting how market is completely ignoring the situation in Iraq (except for Crude-Oil spike). Maybe they figure that fight (Sunni/Shiite) has been going on for 1500 years so what’s the diff? Whatevs? But this grizzled QE loving wolf of a market now post-financial crises/Euro contagion and countless other headline crises does not get panicked easily. You know how it goes — doesn’t matter until it does.
– We’ve been trading for over 17 years but it was HCPG 8 year anniversary on Friday. Woot! Things change, but not really. Still trade off daily charts, still look for bases to buy against…
Let us know if you like these type of posts — give us some feedback and if the reaction is positive we’ll go back to doing them. HCPG
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.