Great Trades

Great stock trades based on fundamentals and technical analysis.

Tuesday, February 24, 2009


Took partial profits, holding most long

On today's very nice bounce-back rally, our trading model took partial profits on HIG in the mid-8's from the low 6's and on BAC in the mid-4's from around 3. Both are likely to continue higher, but we needed to take some off the table after both had 50% moves in 2 days. The model also took profits on half our oil position again on the nice rally and took profits on the extra leveraged S&P 500 long.

While the stocks and oil had a very strong day, gold dropped over 3%, making our gold short hedge very timely and effective.

On the remaining stock positions, we're putting in a stop on half at 765 to lock in profits and on the rest at a break of 750 on the S&P 500.

Open Positions: 85% long S&P 500, 5% long oil, 3% long HIG, speculative traders long another 5% oil via leveraged ETF's, long partial BAC, and short gold to hedge.

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