7/28/2014 Re-Loading On Stocks
Buying half of a position in Cheniere Energy (LNG) with 33 shares at 74.25. This dominate exporter of natural gas is set to report earnings after the bell today, therefore I want to buy half of the position now- and the other half after the company reports.
LNG is also approaching the 20 day moving average, displaying considerable technical strength, so I will look to buy my second lot (position) there at the 20. The stop-loss goes in under the 20. Pay close attention to the S&P 500, in the meantime. If it falls, so will LNG. Regards.
7/30/14 S&P 500 Breaks 20- My Counter-Moves
The S&P 500 opened below the 20 day moving average today (negative). While this may seem like a bearish development, the 50 day moving average is already coming in as support.
I am betting that the 50 holds but, should it break, we will have our stop losses in place for Morgan Stanley $MS and Cheniere Energy $LNG, who are both displaying strong technical movement on their respective charts.
One more idea here; check in on Target ($TGT). That thing is ready to explode, should it confirm its break out above all recent moving averages and hold it’s current price of 60.00 (61.48 to be exact).
7/31/2014 Dow Down Big, Don’t Panic
The Dow Jones and S&P 500 are coming under considerable pressure today as weak earnings out of Exxon and notable weakness in Europe spooked investors. Don’t panic. Just yesterday the U.S. reported a fabulous GDP number (4%) and 66% of companies in the S&P 500 have beat earnings so far this quarter.
I feel that everyone is so ready for the correction that they waste no time in taking profits; sort of sell first, ask questions later. My stop loss for $LNG was hit today, but I still have Morgan Stanley on the table as well as FCX (and of course UPRO, the S&P 500).
I am buying $5,000 worth of the S&P 500 (UPRO) into the weakness. Will look to buy some call options here if new get cheaper on the $SPY. Regards.
8/1/14- Buy The Dip
On a day like yesterday & today, you want to be picking through the rubble trying to find quality names in order to re load your portfolio going forward.
I like $CAT here. Caterpillar gives added diversification (industrial), yield (2.78%), is a best of breed, & it is extremely oversold. I looked into the options on CAT (to preserve long term cash) but they were not liquid enough.
Stop loss is in on CAT at 98.99. Regards.