Portfolio update on existing long and short positions 

lazy lawn mowingI’ve been active today primarily covering a couple of my short positions. The first was in Invensense (INVN) at $10.79 for a 4.6% gain. The other one (unfortunately) was in Lululemon at $68 when I was uncomfortable with the coiling price action occurring during the President’s speech he was giving to the press.

There was a false breakout to the upside for only a moment, but it was just enough of a fake that I covered my short position from $70, knowing how fast that stock was capable of moving against me. I still made 2.9% on it though. 

Then in an earlier post I shorted Clean Energy Fuels (CLNE) at $12.88, while selling my long hedge in MLNX at $83.51 for a -3.4% loss. Overall though, it has been a great day of trading for me and wouldn’t be surprised to see this market still drop further in the days ahead. 

Here’s today’s Lazy Trades in TDS and DKS

Long; Dicks Sporting Goods (DKS)

dicks sporting goods DKS long setup bull flag

Short: Telephone & Data Sys (TDS) 

telephone data systems TDS short setup

You Might Like

  • South Korea and its impact on the US stock market.

    South Korea: The Hidden Driver of US Tech Volatility

  • Learn to trade within your means.

    Stop Trying to Hit Home Runs: Start Trading Within Your Means

  • Avoiding traps on stock breakout plays.

    How to Trade Breakouts Without Getting Trapped