Cash Deployment

I've added to my Citi (C) position just as it was breaking out above the green line. One observation I've about the runups in financials stocks over the past year is that most of the move is done in a few short weeks. And after that they just languish. Let's see if I entered C at the cusp of a big move.

Hoteling Tactics

I've taken a large position in Strategic Hotels & Resorts (BEE) today, after it tested the 52-week high yesterday, and broke out this morning. After some resistance at 3.62, the target is 5.40.

Keeping things in Perspective

With Rick's taking over VCH Holdings, there could be more consolidation. Recession or not, people need to have Bachelor parties. I took some profits, and sold more than half my position in VCGH.

Companies are not rushing out to buy/lease copiers exactly. Sold half my position in Xerox (XRX).

I was lying await, ready to pounce on Qualcomm (QCOM) at the trendline from a long time. Qcom would have got there but for the premature buyback announcement from the company. Bit my tongue and bought it anyway around 37. If it breaks above the red line, we could test the lifetime highs (around 94), in a couple of years.

Planning to sell half my VMWare (VMW) position tomorrow.

Kid with a Ruler

Some stocks are just easy to play with, with nothing more than a ruler. Hartford Insurance (HIG) had a surreal plunge on good results. And continued falling today as well to the trendline from last March. From there it made a nice clean bounce. I've added to my HIG position here, and it's the largest position at this point. Today's low would be the stop-limit. I plan to sell 25-30% of my HIG position in the 26-27 range.

(Click on chart to view it in full)

Lesson

While the roller-coaster of the past two weeks is not within the Top 5 best rides, the emotional side of me (surprised that I still have that) was telling me to get out. If not entirely, atleast to cut down my long positions in half.

What stopped me was the experience from late October 2009. I had gotten out of a few positions at the absolute swing low. Getting out a few days earlier or later would have made a difference of thousands.

I did pare some of my positions today; but it was limited to those that convincingly failed the underlying technical case.

Have a good weekend!

Friend of Insulin

I'd bought some Amylin Pharma (AMLN) based on today's gap-closing action. A close above 20 would make this stock really take off.

Starting Blocks

Sprint has been bound by this perfectly symmetrical triangle. Will it sprint off the starting blocks? I've bought a couple of thousand shares. Stop limit will be on a breakdown from the triangle.