What Worked and Sucked Today 3242008

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March 24, 2008

What didn’t work? Nearly everything was up big today for me.

6% gains in the NDX and RUT. Half of that was only a gain of 5%, while the QLD and UWM both gained at least 6% this morning as they outpaced their benchmark indexes.

GILD – I sold it today in a slight panic. It was a bad move. Took 8%, had 15% in the calls, but I saw the stock starting to break and was afraid of going negative on the position so I sold. I will look to get back into GILD, or buy CAT, or buy WTW.

VLO – Was working until AH today where they warned/reported their numbers early. However, the news was already known and probably the reason for the stock’s slide already. The crackspread has become much more favorable and everyone on Fast Money tonight was a buyer or owner already. We’ll what brokers think. Maybe an upgrade? VLO showed up on the Schaeffer unusual call option activity list today for the April 50s.

INTC – Continued higher today. Its a slow mover.

DAR – Had a nice pop today. I’m down 11% on my DAR position, and may add to it.

AMAT – Up 4% now and will be holding unless the chart turns.

CREE – The bounce continued today. I sold half my position for a gain of 4%.

The 50% cut I did to the index longs this morning was put back on eod today. I’m expecting higher highs to be made tomorrow, hopefully in the pre 12noon timeframe so I can take advantage of selling into it.




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