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30-Jun-09

I'll try shorting AAPL again today on weakness, (PALM too)

I'm also looking at shorting PALM if it starts to break down.  Both stocks have had beautiful runs and look ripe for some profit taking.

I'm also in FAZ with a decent position.  The financials have looked a little shaky lately and haven't participated much in the rallies.  As always I was a little premature there, but am considering risking 52 wk lows if I can stomach it.

Right now I'm 80% cash and I'm trying to show some patience waiting for price confirmation to put money to work.

Everyone is pointing to Thursday's June Unemployment number.  That should be a good barometer of where we are headed short term. 

There is a possible head and shoulders forming in the S&P 500.

I'm also keeping my eye on FXP which looks near a bounce.  I've got price alerts set up to help me with my discipline there.

Good Trading!

 

Tagged Stocks: AAPL, PALM, FXP

 

Posted at 08:46 in External Blog  |   Permalink   |  Top

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