Mexican Cement

I was looking around at FINVIZ.com and spotted a stock I invested in awhile back. The company is Cemex (CX). I was looking at the chart and was seeing a inverted head-and-shoulders pattern beginning to develop. I may look to take a position in this shortly.

YRCW

During yesterday's unexciting market I sold some additional shares of YRCW Worldwide INC (YRCW) at $4.27. I only have 100 shares remaining, which are supporting my Oct $5.00 covered call I sold earlier this month.

Go Goldman

Trying to take advantage of the Goldman Sachs (GS) pullback and sort of a long-shot as well. I purchased a Nov 210 call for $1.70.

Monday's Results

I closed my position in Adobe (ADBE) today. I was in on Sep 30th @ $32.51 and exited today at $34.75. I piggy-backed on the huge move down on Digital River INC. (DRIV) and scalped a trade within a very choppy moving stock. I got in at $25.12 around 9:30 and sold off my position at $25.63 around 10:25.

I added some new plays to my portfolio today. I got in on Activision (ATVI) at $12.42 and Verizon (VZ) at $29.05.

Tomorrow's Trades

I will be trading from home tomorrow and definitley very anxious to see how my play in Adobe (ADBE) and my 2X short positions in SDS, DXD, and QID play out. I'm also keeping an eye out for YRC Worldwide (YRCW) and Dryships (DRYS).

I just read a basic online trading book this weekend from Christopher Farrell "Day Trade Online" 2nd Edition. I enjoy reading trading books and delving into ways other traders view and trade the market. The book is pretty basic but reminds us how important the bid/ask really is and how influential the market makers and NYSE specialists really are, so try to be with them rather than against them when entering/exiting trades.

Anyhow good luck to all and if anyone is reading this blog and wants to comment on stocks they are watching tomorrow or books they would like to hype then please comment.

Dark Cloud

Here comes the dark cloud! Yesterday I completed my trifecta of dark cloud trades by taking a position against the Dow 30. I got into the UltraShort Dow 30 ProShares (DXD) at $36.49 during the pre-market. As it stands right now, I am 2x negative on all three of the major U.S. indicies.

I may a bit early, which hurts in the pocketbook, however I do think we are looking to take a big hit downwards. These recent moves upwards are on lighter volume and I personally think that we will have a big volume day in concert with heavy sell-off.

Nice Move

I got into Adobe Systems INC. (ADBE) today at $32.51. Not much to say except I like the trend upwards and it should keep holding true. I like looking at the Mar/Apr timeframe with the huge spike in volume and the upward move, drop down, and then gap upwards, plus the stochastics are near the oversold area. I'm really liking this set-up.

YRCW Topping Out

I sold some YRC Worldwide INC (YRCW) in today's pre-market at $6.25. Waiting to see what this stock does going into the weekend. As a reminder I did sell a Oct $5.00 covered call for only $0.45, so I'm somewhat happy it has pulled back on that front, but I still have some stock just hanging around, so I guess I'm somewhat covered on both fronts to a degree. Looking at a yearly chart, it did find resistance around the low/mid $6.00 just like it did towards the end of 2008 and April 2009.

Too High....Wait and See

I'm in the process of making a play against the market with regards to the NASDAQ and S&P 500. I'm betting the double short play on the QQQQ's with QID at $22.44 and the S&P with SDS at $39.38.

Short Indian Banking

I made a quick trade while waiting to go to the Colorado Rockies game today with my uncle who is in town today. I have traded ICICI Bank Ltd. (IBN) in the past when it was trading in the upper teens/lower 20's. I've decided to buy Sep 31 puts at $2.10.