Chart of the day: CALA

CALA is a biotech stock that has shown some buying interest while in the midst of a down trend. The recent volume surge has the stock over it's 50 dma, which could start a remount and give it the momentum it needs to make a short term run. This is a speculative setup.
  
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AAPL short

I went short AAPL prior to the trendline break at $292 (see Trade Report). Looking to take profits in the $180-185 range:

Speculative GOOG Short

While GOOG is on the bullish focus list and I am high on the setup on pullback, it is very overbought. The two period RSI is off the charts extreme. I took a small speculative short position.

My stop is at $526. Target is $510. This gives me 2:1 risk ratio.

Keep in mind that GOOG's earnings announcement is October 15.

Trade: DXO (Leveraged Oil ETF)

I entered 600 shares of DXO at $2.65. This is a new, leveraged oil ETF. Price is near lows (support), stochastic is oversold and RSI shows a positive divergence. I consider this somewhat of a speculative trade with limited risk.

Trades: POT and CAT

I am short 100 shares of POT at $208.77. This trade is similar to the failed trade I made in HAL. Basically, I set a short-limit order to go short at $208 this morning. The idea is the stock is so extended that a strong open would likely pull back. Considering the market is also overbought, I will likely keep this trade open for a few days. With these types of speculative trades that go against the trend, I use a tight stop and small position size.



I am long 300 shares of CAT at $83.07. This is a classic breakout-pullback play. The stock could still pullback a little more, which is why I went with only 300 shares. I will likely buy 200 more if it pulls back to $81-82.

Today's Trade: FLR, VMX, MICC, DRYS, CTRP, FWLT

I sold 300 shares of VMX at $124.25 (entry at $111.24) for a $3879 gain (+11.6%). A post earnings IPO play that has done as expected.

I sold 300 shares of MICC at $111.13 (entry at $100.63) for a $3150 gain (+10.4%). This was another post earnings breakout play that worked out well.

I sold 300 shares of SAY at $29.74 (entry at $28.42) for a $396 gain (+4.6%). While I hate to complain about a 4% gain, the stock has not jumped post earnings in concert with the Indian market, which is booming.

I was stopped out of 300 shares of DRYS yesterday. I entered $124.20 and was stopped out at $119.54 for a $1398 loss (-3.8%). A speculative trend pullback play that backfired.

Yesterday, I bought 300 shares of CTRP at $55.08. This is a breakout and China play. The stock immediately went down after I bought and printed a bearish engulfing candle pattern, though has recoved today.

I bought 150 shares of FWLT at $148.10. A trend pullback play.

Today, I bought 250 shares of FLR at $159.21 on a pullback to the 50 day moving average.



I am holding RIMM, AAPL, BHP, PCU, FWLT, FLR, CTRP. I might lighten up before the Fed meeting.

Trade: LEH

I bought 250 shares of LEH at $82.64. This is a speculative play along the lines of the AKAM trade. My target is the recent highs at $86, and my stop will be placed just under the 50 day moving average, around $80. The brokers have been strong over the past few months with dips providing good entry points.

Today's Trades: STLD and AKAM

I sold all 900 shares of STLD at an average price of $39.88 for a $1577 gain (entries at $37.87 and $38.45). Currently we've got a long bar heading right into resistance at $40. This is a strong stock, and steel has been on fire, so I may re-enter on a break of $40 or pullback to the bottom of the price bar.

I bought 400 shares of AKAM at $55.63. This is more of a speculative play as it does not fit any of the technical entries I normally use. Every once in a while I allow myself a trade like this one, as long as I stick to my stops. The stock has generally fought off the bears and continued higher after pullbacks. It's sitting right at the 20 day MA. My stop will be placed under the 50 day moving average, probably at $53.90.