Wednesday, February 27, 2008

Today's Trade: TWM and CREE

As I noted in a previous post, I am using individual stocks for by bullish plays and inverse ETFs for most of my bearish plays.

Today I bought 400 shares of TWM at $77.10. The inverse ETF is at the bottom of its trading range which gives me a nice rewards to risk. My stop will be placed around $74.50. Note the positive OBV divergence.

I also bought 300 shares of CREE at $33.53. Strong trending stock that has been a buy on pullbacks.

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