Yesterday, as SPY made new highs, I decided it was time to enter SDS (which is a 3x short on SPY). It’s tough to call this one with the market moving higher seemingly everyday, but with the large divergence from the 200-hourly moving average, and it being extremely overbought now is a good time. If it keeps trending higher, I’ll get out of the way and then regroup on it again later.
Today, we have Janet Yellen speaking at Capitol Hill to the Senate Banking Committee. A lot of eyes and ears will be on her to see what she talks about and if there is any indication of whether or not the Fed thinks that interest rate hikes are likely to happen this year.
There are a couple of articles you should catch up on today from RagingBull.com:
From Nate Martin: 3 “Top Shelf” Pot Stocks You Should Know About
From Kyle Dennis: A Biotech Stock That Could Make Serious Gains
Here’s the ETF Scorecard for today:
For the TSP Portfolio:
SDS – 3000 SDS @ $13.94 and will be keeping a very tight stop on this if SPY breaks north of $233.50 more than 2 hours.
DRIP – Up about 4% on my 3000 shares of DRIP @ $13.52. Looking for 8-10% on DRIP if the trade works out. I will be stopping this if XOP trades convincingly above $41.25 for a few time periods, which would be a small loss.
DUST – Over 4% so far on the 3000 shares at a 25.03 average. I will still be stopping out of half this trade if GDX trades north of $26. Should be a nice 10%+ coming up for DUST though if this works out.
What I’m watching..
UGAZ – UNG continuing to drop into the lower $7’s soon, which is when I would look to add a position here. Nat gas volatility is always on my mind, so I don’t have a problem taking a half-position here and then averaging down if need be. I wanted to be patient yesterday and will see how it’s trading today. This is the stock I am most focused on today.
Petra’s New Trade Updates and Portfolio
ATI – 505 shares at 21.39
RGLD – 140 shares at 71.62
LNG – At 48.21 for a very small loss.
Her current portfolio continues to produce more winners than losers. She is rocking it!
Have a great day!