Great Trades

Thursday, March 05, 2009

Covered shorts, Long GE, HIG, BAC, PTV

With the market giving up all of yesterday's gains and more, our trading model is taking profits on our S&P 500 short (SPY 70.1) and taking trading long positions in the S&P 500, GE under 7, HIG in the lower 4's, BAC in the low 3's, and PTV in the mid-11's. Speculative traders can go long financials 20%. We still don't think the bottom is in yet, but there could be a sizable bounce soon.

Open Positions: 20% long S&P 500, 10% long GE, 5% long HIG, 5% long BAC, 5% long PTV, speculative traders long financials 20%, short gold to hedge.

posted by GreatTrades  # 10:30 AM

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Disclaimer: Great Trades may have a position in all or some of the stocks discussed in this blog, but is not paid by any company to promote their stock. Great Trades contains opinions, none of which constitute a recommendation that any particular security, transaction, or investment strategy is suitable for any specific person. Great Trades does not provide personalized investment advice.