Trades, Market Direction and Other Stuff

I sold half my position in GG at $31.05 (entry $29.07) for a $396 gain (+6.8%). I'll let the remaining shares ride until they hit my stop, and may add more if the stock pulls back to support.

I sold half of my HAL position at $33.95 for a $397.50 gain (+4.9%) . As with GG, I will let the remaining shares ride.

I covered half my short of BOOM at $28.86 (short at $30.32) for a $292 gain(+4.8%) . I will let the remaining 200 shares ride.

I came close to shorting BRCM, but decided not to pull the trigger.

The thesis for Friday is the same as the past few days, with what looks like a rotation into energy and metals from tech. The bounce over the past few days has got many pundits and bloggers thinking this dip was another buying opportunity. However, I tend to agree with Trader Mike's Falling Methods candlestick analysis. The bounce has not been as strong as the fall and looks ready to thrust down again. With the plethora of strong charts in energy and metals in the midst of the fall, I'm betting we'll see, at least in the short term, a repeat of what we saw a few quarters ago, with commodities gaining while equities fall. Time will tell.

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And the classic, So Smooth