First, I sold the UPS I bought this morning. I still own Jan 08 calls on this one, so the buy this morning was a "sympathy rally buy" based on FDX's upgrade and pre market strength. Got almost a buck out of it, so that worked o.k.
Today, after reviewing Amazons numbers, decided to buy a small position in AMZN which I will add to on any weakness.
Also bought a little LVLT, which I have been trading by buying when it gets near 6 and selling when it gets above 6.25. This will work...until it doesnt!
Got the down move in Gold today that I mentioned yesterday and yes, it came on the back of dollar strength. Because of the over 70% bullish consensus on gold amongst newsletters, I cant buy this right now, even thought longer term, I want to own Gold. The way to play Gold for me is either through GLD, or AUY or a combination of both. I still have about 6% of my portfolio in DBC, a commodity ETF, so I have some exposure to Gold, but this ETF is more weighted to oil than metals.
The USG I bought yesterday and mentioned here performed as expected today and I am trying to decide if I will sell it before the close today. The homies have been on fire this week....up every day I think. LEN has gone from around 50 -55 this week alone. Not a bad move and a near miss for me as I almost shorted it expecting a hawkish fed statement to put the brakes on the homie rally. Good near miss there.
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