11:52
I’ll be adding some more positions — long and short — later today, but for now I want to sell a long position that I’ve been holding for a couple of weeks. HP Inc. (HPQ) is up about 6.5%, which is about twice that of the market since Feb 22 when I bought it. The market is staying strong today, so I may have more sells later today as well.
12:08
These are the new positions that I will be adding today. They are all momentum-based trades, rather than seasonal. I will buy them at the close and place a 10% stop loss on each one:
Long:
MGM Corp (MGM)
United Therapeutics Corp (UTHR)
Ralph Lauren (RL)
Short:
Oracle (ORCL) (long term short)
Brixmor Property Group (BRX)
Solar City (SCTY)
12:40
One of the seasonal long stocks that I bought on Friday, Big Lots Inc. (BIG), has not failed to continue its seasonal trend. In less than 2 days of trading, it is up over 8%. With the market this high in a risky environment, I am going to take profits here.
2:30
Next up to sell is Cambrex (CBM). This biotech stock has been trading flat for most of the day despite the sizable fade in the Nasdaq and Biotech sector. I bought Cambrex last Monday, and it is up a little more than 7% since then.
Trading Through Trends 