Made a few trades today as the SPX approached 1150. I stayed heavy in cash through lunch and luckily avoided the afternoon sell-off.
- CPE – out 1/2 position for 2.3% gain
- BIOF – entry at 2.02 this morning. Sold 1/2 at 2.17 and the second 1/2 at 2.22. Made good money here (8.2% gain), but left a lot on the table.
- NANO – exit second 1/2 position today for nice gains.
- FCX – shorted at 86.44 – still holding.. a little upside down right now. Definitely a risk trade. I expect gold to continue up this year, but am looking for a pullback this week. We’ll see.
- FSII – in 2.77. Still holding.
- RAS – out 1.56 for 4% gain. I left soooooo much money on the table today between RAS and BIOF.
- BRCD – stopped out today for 3% loss
A look at today’s intraday SPX chart.