Thursday, August 21, 2008

8/21 Day/Swingtrades

I took some profits in the early AM. The energy/commodities have had a good run the past 4 days. It may be time for a breather as many stocks are sitting right at the 20-SMA on the daily charts.

POT - I picked up calls as it broke above the opening range high.
Bought @ 180.20, Sep 140 Calls
Sold @ 185.50
Profit - $5.00 on Calls


AMZN - I re-entered this morning as it stabilized above the moving averages.
Bought @ 83.27, Sep 65 Calls
Stop @ 81.90



GS - I picked up a couple calls near the close. It looks to be breaking out of the declining channel and the stop is manageable at 153-154.
Bought @ 165.50, Sep 120 Calls
Stop @ 153.90


SOL - This laggard faded the early morning strength...along with SOLF
Bought @ 18.88, Sep 12.5 Calls
Sold @ 18.55
Loss - $0.40


GG - Sold into early morning strength. Thanks go to Darwin for calling the gold reversal last week.
Bought @ 31.15, Sep 25 Calls
Sold 1/2 @ 32.80
Profit - $1.30 on Calls
Sold remaining 1/2 @ 35.05
Profit - $3.52 on Calls


CLR - Sold into early morning strength
Bought @ 49.94, Sep 30 Calls
Sold @ 55.37
Profit - $5.40 on Calls


SPWR - Sold 1/2 @ 94.50
Profit - $4.00 on Calls

CSIQ - moving stop to 30.40


VPHM - keeping stop at 13.40

4 comments:

Darwin said...

OE, ouch....sold LEH for a .87 loss per contract...may buy add'l XLF puts as I don't buy this. Bought puts on IPI.

Darwin said...

Just bought XLF 20 puts.

OE Trader said...

Hey D, I'd slowly scale into those puts. Everyone thinks more bad news will come but a lot of that bad news may already priced in. I'd wait for more confirmation that the rally fades. The easy money shorting financials was made last week.

Darwin said...

Yes, I believe you're right...patience...thx