May 5th: Market

LCC (5.00 was the target, hit today)
- it's up 27% and hit 5.00 target. No reason "sell it all" b/c its obviously working. But I would be taking profits and tightening stops.

SPG still looks good here

GME still looks good here
(I thought they had already reported, but now I see they don't report till May 21st, my apoligies, I will check 2 site's next time. It's a good amount away so that is not really a factor here. Stock's like GME do not get (2.5 week long pre-earnings momentum rallys lol) As long as it's not 1 week within earnings, i like it alot.

FEED bottomed today at the exact same price it broke out at yesterday...3.85, that's a pretty healthy and bullish sign.


I took alot of profits and money OFF of the table today. I still hold all 4 positions, but it is only about 1/3 the amount of each now.

I think it's a good time to pull back and be cash heavy here, rather than to try and "game" the stress tests. That's a gambler and sucker's play, not a traders.

Instead I would much more prefer to see an extreme over-reaction maybe, then we have a much higher probability trade to fade it back the other direction. (like airlines off swine flu)

There are times to mash the gas
There are times the best trade is no trade at all

VIX was down today, which has a bullish undertone. So on a "broad" market view, today looks like a digestion day. I have over 250 tickers on my watch list, and i see more red than green, but i also don't see hardly any breakdowns (AKS is about the worst i see at -9%), but i do see more breakouts (FIG, GNW, AIG, MGM, LVS).

Time to let the market tip it's hand here and sideline watch.