Looks like Al Bundy was right. Even though DSW Inc. (DSW) beat on the top line, I didn't get the kind of move in the stock to show profit. I ended up selling the SEP calls for .80 a huge loss. Luckily I offset that with profits from my PVH Corp. (PVH) shorts which I covered when the market was down 100. I used the dip to add some Apple (AAPL) and Hansen Natural (HANS). I added to my gold shorts with the precious metal being up $42 today. It looks like gold may be forming a double top which would be a good sign for my shorts, but if gold closes above $1915-$1920 per ounce I'm gonna have to cut my losses. It looks like the bears may win the day, but I don't think we should be down more than 100 points. We needed a little pullback anyway if this rally is to remain healthy.
This is not a recommendation to buy or sell any securities. DAK was short GLD and long AAPL and HANS at the time of publication but positions can change at anytime.
No comments:
Post a Comment