Thursday, January 7, 2010

1/7/2010 12:30 pm update: CERN, NBR, NQ

  • numerous studies i follow, including this one by quantifiable edges, suggests that seasonal weakness for january may begin tomorrow and last through friday the 26th...
  • i am looking to reduce my longside exposure: when CERN and NBR broke out of their daily base on tuesday, i picked up some cheap out of the money calls on each of them...i just sold them for about a triple on CERN and a double on NBR...
  • if the typical mid january weakness manifests, i will look to buy some NQ for a discretionary swing trade...
  • i will also scan the charts and look for strong stocks that put in controlled pullbacks...once i sense the move down is over, i will get long some strong stocks via cheap out of the money calls...
***remember this is an illustration of what i am trading and my thinking...it is not a recommendation for you or anyone else to buy or sell this or any other security...trade at your own risk ***

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