Great Trades

Great stock trades based on fundamentals and technical analysis.

Thursday, March 26, 2009


Bought long for breakout

With the market holding on to yesterday's late gains as well as additional gains today, our trading model has bought long S&P 500 and financials for a likely breakout, with the SPY puts held as a hedge. Also, covered MET flat in case of breakout.

All dips are getting bought up quickly, and month end is coming up, so we're buying this dip for a likely breakout to a new high, though it may be fairly short-lived. The action late yesterday and this morning indicates there are many traders caught short this market.

Open Positions: 30% long S&P 500, long 30% financials, 1% long SPY April 77 puts, speculative traders long an additional 30% S&P 500 and 30% financials, and an additional 1% SPY April 77 puts.

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