Trade: SRS

I took a small "probing" position in SRS (ultrashort real estate) today at $61.55. As noted in a previous post, the bottom of price support is in the $50 range, thus the small position size.

Note the extremely oversold the stochastic indicator.

Today's Trade (FWLT), Market Notes and Off-Topic

I bought 100 shares of FWLT at $129.26. This is a small feeler position and I will buy more on a pullback into the $125-126 range. To the upside, I will buy more on a break of $135. Note that this is a position trade with a longer time frame than some of my recent trades.

I am glad we finally received a day of consolidation (although many stocks I follow are still on fire, ala BHP and GRMN). Hopefully we'll get a few more days like this, which will be great for trend-pullback plays.



Off-Topic:
This weekend I received more non-trading e-mails than usual. This is probably due to the links post and the new site design.

I'm still tinkering with the site design. By the end of the week it may look completely different. I welcome e-mails and feedback on the design.

I received and appreciated all of the tv show suggestions. It looks like I'm going to have to put some new shows on my Netflix list. As for new fall shows, tonight I'm going to sample Big Bang Theory and Chuck. Of course, I can't wait for the new Heroes episode.

Great weekend for NFL QBs. A ton of 300 yard games. Patriots win the Super Bowl. Anybody want to bet against me?