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Sunday, July 7, 2013

Stock and ETF newsletter 7/7/2013: $SPY $SVXY $UVXY $GLD $GDX $UGL $RGC $DIS $NOK $BBRY $SNV

Here is a quick wrap up of what happened this week and our sold and current positions.

$GLD $GDX $UGL

Friday's job number was pretty decent. It sent market and dollar $UUP higher. The raised dollar hurts gold $GLD -2.19% and silver $SLV -4.26% badly. Our exist of gold's bounce play in $UGL proved to be a smart move.

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$SVXY $UVXY $SPY

Our short in volatility since the market melt down in 7/2 turns out to be a fantastic play. It is up 7% in less than two sessions. I out half into strength before the holiday. Now still holding half in $SVXY.

The oil price just kept flying higher without any interruption by the news from Egypt. It confirmed our thoughts that the $USO has nothing to do with the potential Suez crisis. And to the broad market, I think it also applies. The melt down in 7/2 was artificial and maybe just faked by the bears.

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$NOK $BBRY

$NOK turns out be a candidate for a real break out. In this shorten week, I found it's difficult to read the volume but the price itself did display a promising up-flag break up. I am still holding full position here and want to see it challenge $5.

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On the other hand $BBRY is truly a sad story. The co. tried to launch quite a few new products this year but it just doesn't work. I don't have position now but would like to revisit this name when the dust settle. If it goes down to $6-$7, I definitely could see myself planning for a potential bounce.

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$RGC $DIS

$RGC is another name we added last week. It is holding OK and in money. The volume in last two sessions were really thin. Now it is less $0.2 from recent top at $19. The most recent two push up came with big volume. I will watch closely its price action this week. I would see a strong break up of $19 with good volume.

Compared to $RGC, $DIS shows some weakness after a 120% run since 2011 low. Maybe it just wants to use some rest, maybe it really wants to correct. The Long Ranger is definitely a failure but to short $DIS here is dangerous, the up trend momentum is huge. I'd keep it on radar and may even consider Long if it could break up the down trend line.

Now still hold full position in $RGC and no position in $DIS.

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$SNV

$SNV broke up the $3 resistance and squeezed up more than 4% last Friday. Our patience pays. This break up is significant and the space above is not explored in 2 years. The financial sector is pretty strong recently so I would like to hold my position longer even though it could see some resistance between $3-$3.5.

Still holding full position in $SNV.

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