SLW and GDX closed intraday @ 32.5x/ 38.4x for +1.9%/ +0.6% gains. RYPMX off
at the close for a +0.91% gain. Altogether about a +0.95% gain for the
portfolio, which really just takes me back to where I started the year (however,
that preserves last year's +19.7% gain).
Surprisingly, I was so focused on GDX prices (as a proxy for RYPMX) during the day that I didn't notice the sell-off in the broad indexes until I arrived home around 4 pm.
SPX - 61p8's view of how wave 4 down and wave 5 back up might unfold...
ReplyDeletehttp://charts.61point8.com/20130226-SPX-30min.png
Looks like we already hit that 1480 level, should be up from here?
DeleteIs today a preview of what to expect this summer?
ReplyDeleteThis market is tough man. I still think they're shaking the tree hard to get people out. Just in reading blogs etc it seems to me that some big bulls are starting to go to the sidelines / questioning the strength of the market.
ReplyDeleteI think the best approach is to focus on beaten down companies, buy them on weakness and build positions in stocks that you think will be good for a longer period based on catalysts. Buying on strength is a sure way to feel pain...perfect example is my purchase of ZNGA and BYD yesterday. ZNGA is getting crushed while BYD is holding in ok.
DeleteI'm sitting on my hands for the moment.
DeleteMarket more or less directionless. Could go down, could go up.
Stocks not cheap enough to buy, not alarmed enough to short.
XCO bought back, but only got partial fill of what sold yesterday. Was able to buy back at same original price.
ReplyDeleteZNGA looks to be filling the gap (yeah easy after the fact) I like the institution holders of this. If I lked the mkt here would be long but still considering it here. Perhaps just buy some and don't look at it for a while.
XCO sold +.78 scalper
Deletethat's % scalp
DeleteT3d - Yeah I think that's probably the best way to play ZNGA (buy and hold). Although it's so damn volatile you could probably trade it. I like it longer term but my entry was horrible so I'm probably going to try to sell on strength.
DeleteJust see bullion ripped during last post +20
ReplyDeleteZNGA, bought a small amount, Silver Lake Partners bought .4% of their 748MIL port in this or 40 mil. These guys are smarter than the average bear. Franklin Resources are in their too along with others.
ReplyDeleteBuy mid March I think the mkt will find a low and start higher again based on voodoo indicator.
dang thats 5.4% of port
Delete3.21 fills the gap
wow that's a big stake. what is their track record?
DeleteThey are good and basically private. They are the ones who took Seagate private and are involved in DELL I believe.
DeleteDo not know their numbers, but have watched them for 15 yrs or so.
OT:
ReplyDeleteBTW saw ZeroPoint30 yesterday, very good flick.
We live in an extremely violent, ruthless world. It makes me want to go buy a gun again.
Clearly the gold mkt likes what they are hearing from Bernack, his motto
ReplyDeletePRINT FOREVER
this whole legalization of online gambling sure feels like the hype surrounding legalizing weed...except it seems a lot of states are on board.
ReplyDeleteanyone see the turnaround in CZR today?
Face it, when it comes to finding a way to tax us, politicians are nothing more than whores.
DeleteBefore everything had a war or law against it. Now all limits are gone. As long as there is a tax for it.
yeah and all we can do is try to profit from it. or run for office and work on the taxpayers dime
DeleteAnd avoid their new tax schemes....
Delete"avoid their new tax schemes"
DeleteI'm afraid I can't do that, Dave.
HBM? Could be an opportunity?
ReplyDeleteTRW - This one might be one to pick up if the market crashes? Check out the channel, this one was B&H for those who hate watching grass grow.
ReplyDeleteMight be worth getting in here if the market isn't gonna crap like an elephant.....
Current PO is $79
ZNGA - My broker's PO is $3.60
ReplyDeleteI see that TVIX hit my sell limit at $6 this morning. At this point, I am down to the last 500 shares, and given that TVIX is NOT in the value region anymore and CAN potentially go down a lot now, I decided to place a sell stop at my purchase price of $5.05, so as "not to let a profit turn into a loss."
ReplyDeleteZNGA popping right now
ReplyDeletesold it 3.43ish
DeleteSCTY - Closed the gap up.
ReplyDeleteFIRE - "Sourcefire: Still aflame, despite chilly environment
ReplyDelete2/22/2013 5:01 AM Maintain $58 PO on 4Q12 results.
probably dumb but just sold ZNGA at $3.51.
ReplyDeleteI have a bid in to buy back.
DeleteAAPL looks like double bottom, bet it holds through EOM.
AAPL long
DeleteAAPL sold
Delete.74% scalp ok
DeleteALLT - ? PO $23, 50% gain
ReplyDeleteLooks like bear flag.....
I think companies like ALLT do well the next few years, managing all the data. Laws are going into place in countries to prevent surprise phone bills and these guys can help. Haven't bought it as it is expensive and SVC.TO does the same thing at a much lower valuation.
DeleteMaybe I get lucky and the bear flag plays out.
DeleteThe way CZR is trading i honestly don't see why BYD won't follow suit. I added to BYD at $6.499.
ReplyDeleteHII - Never say something positive, if you want your stock to increase in value......
ReplyDeleteYou can add Denver to housing markets that are recovering nicely:
ReplyDeletehttp://www.bizjournals.com/denver/news/2013/02/08/supply-of-denver-area-homes-for-sale.html
I need to remind myself of the good exits that I make...I somehow managed to sell ZNGA within 3 pennies of the high and actually took what was a big loss down to break-even. Totally amateur entry point but I'm going to pay attention to how this bad boy trades from now on as it seems to present really good opportunities to trade.
ReplyDeletewent long near close on SLB, RJA, TZOO
ReplyDeleteThis comment has been removed by the author.
DeleteWhy?
DeleteSLB support off of 50 dma
RJA potential undercut of double bottom and price from last sale was at 9.33
TZOO TOF likes (as in Mikey) and have been watchinh it trade daily since his mentioned, trades thin.
Finally seems we are getting EOM strength and the man intends to print.
Subject to change at a nano point.
T3d - Just be patient with TZOO. the catalyst is the hotel booking platform will will be rolled out in Q2/3. I find it intriguing, though, that the two major hotels, the Bartel brothers, have sold enough stock to cut their position down below 50%. I know that has always been a headwind for a buyout...stock is cheap, though, and if consumer spending picks up in Europe it could provide a tailwind for them as they get about 30% of their biz from Europe.
DeleteTDW - This stock acts normally, 50SMA cross up through the 200SMA prompted a selling spree.
ReplyDeleteafternoon,
ReplyDeleteSold my SSO premarket this morning for some extra change. Doing nothing for now.
Looks like Christie signed the online gambling bill just now. BYD, ZNGA, and CZR are all up a decent amount after hours on light volume. Let's see if it holds. I have a good chunk of BYD at $6.50. Crossing fingers. I liked the high short interest, price relative to book and cash flow, and technical picture (right at 200 DMA) going into the trade.
ReplyDeleteAfter thinking about this more I felt like anyone with an actual presence in the state of Jersey is going to win more than ZNGA would. ZNGA still doesn't have online gambling licenses in place...they applied for one in Nevada but it's not yet approved. BYD trades at 0.50 times book, which is way below it's competitors and there has been a good amount of interest by casino operators and online gambling sites overseas to buy assets in Jersey that gives them a license and allows them to offer online gambling to residents in NJ. I think this alone could result in investors looking at relative value situations and the obvious choice to me is BYD. CZR has an awful balance sheet and is losing a shit ton of $$ but the stock is ripping higher most likely because of a high short interest. BYD on paper just looks a lot more fundamentally sound and the stock has had a bit of a knockout pattern after bottoming in November. Will be interesting to see how it pans out over the next month or so...
Delete80% of companies have guided downward?
ReplyDelete