Monday, May 11, 2009

05/11/09 Market Recap

Welcome to OPEX week, it should be a fun ride. We had another disjointed day in the market, the SPX lost -2.16% while the NDX was down only -.45%, technology was the only sector which was up today(+.70%) while the other sectors lagged behind with financials taking the biggest hit down -5.91%. There were a lot more decliners than advancers, but still relatively mixed as the SPY stayed around the daily VWAP for most of the day, we won't get a real move to the down side with mixed sector performance. I'm still not convinced of a move to the down side as we didn't break any key levels in the ES.

Potentail Cup with Handle, TYL:
















I currently have a heavily hedged portfolio, about 60% longs. All my shorts where down nicely today but my longs where down as well with the exception of CSCX which continuously went up right from open to close. I took profit on my CAVM which was mainly due to the uncertainty of the market and not for technical reasons(which I shouldn't have done), I sold the rest of my AHD position at 2.75 mainly out of fear as it opened down on mixed earnings.

New short position, DECK:
















New long position, DRYS:

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