Position Update

A satisfying day which could have been better...but no regrets.

Like I wrote at the end of my last post, I had no access to the markets from 9 to 11:30 this morning. A risky scenario considering I was heavily long. I knew the Citi results but the pre market was giving me little clue on what to expect later today. So, I decided to place some sell limit orders to just lighten up my positions.

I placed a sell limit for NEP at 10.40. It never touched that price, so I still own it and am very comfortable with this position.

I placed a sell limit for SBIB at 5.49. My entry point was 5.50. It reports day after and no way I was going to trust a banking stock through earnings. I was pretty confident that it would test 5.50 - its resistance - so placed the sell limit at 5.49. So, a loss of 0.2%. It had a high of day of 5.61 and closed at 5.50. If I had been able to watch the markets, I am very confident that I would not have been able to sell at the HOD, but I would have at least sold at breakeven including commissions. Oh well....but given the same choice and the same circumstances, I would do the same thing all over again.

And now....SWC. I have been crying myself hoarse about Palladium, SWC and PAL since the very first day I started writing this blog around a week ago. The regular readers of this blog know it. Well, SWC looked pretty nice in the premarket. But still I held a fairly large position, a little too large to be comfortable with when I couldn't follow the market, so I put a sell limit for 45% of my position at 12.80. And let the rest run. And run it did!!!!!! SWC closed at 14.10 with a gain of over 13%! I sold the rest of my position at 14.10. I wasn't comfortable leaving single day gains of over 10% on the table in earnings season. Looking at the charts, had I been able to follow the market, I would have sold half of my position at 13.50 and still be holding the other half. Still, cant really complain.

I still hold my WYNN position which I hope is a WYNN-win situation :).

I entered into DXCM at 10.05, a chart which I posted in the watchlist yesterday.

So, that's how I stand. I covered all my Friday's losses and then made some thanks to SWC. Hope you all had a nice day today too!

I will be back later tonight to have a look at the watchlist, and maybe also a review of SWC and PAL. Take care.