Monday, April 4, 2011

Consolidating under resistance...

...is what markets did all day. A choppy and rather boring day. Nothing really interesting, silver was the only big mover (+2%). Semi's went further down, which was to be expected after Friday's move.

Swingtrades
I opened a bunch of swingtrades, including some shorts as well as positions in TLT and SDS as a hedge.
All are small positions. Some I closed because they started to get extended from their base or because of a nice gain.
RIMM: short @55.75. Took profits 55.29 - 54.92 - 54.41, sold everything, +1.33% on average.
OCZ: long from Friday @8. Took partials 8.44 - 8.57 - 8.73. Keeping a few on to swing in case of a gap up or trend day.
WY: long 25.20, SL24.75
BX: long 18.30, SL17.80 (SL moved to breakeven), took off 2/3 near HOD
MTZ: long 21.50, SL20.50 (SL moved to 21.35), took off 1/5 @21.90
BBY: short 28.46, SL29.00 (SL moved to 28.80)
BGCP: long 9.53, SL9.22
TLT: long 92.28, SL91.40
SDS: long 20.81, SL20.51

Daytrades
2 daytrades: BRCM and SOHU.

BRCM was mentioned in the HCPG-newsletter, as a support-buy in the 38-area. And that was exactly where the stock bounced at the open. In @38.42 and took some off at the pivot-point (38.74). Then the stock reversed and I sold the remaining part at breakeven.

SOHU: In near 94 after the stock bounced on the 5EMA. The stock went down again until the 9EMA catched up, then SOHU took off like a rocket, straight ahaid to R3. I took profit near 95 (whole number) and  some more near 96. I left some on but my stop was a little too high and I was stopped out. SOHU rallied some more towards the close.

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