Wednesday, March 2, 2011

No Beatings Today

It feels good to get a reprieve from the relentless selling. DNS +9, +11, +2. I'm not taking much comfort in today's action ... way too many stocks pulled back too far from their highs today.

Trades:

RES dropped on the open and hit its trailing stop loss, +0.81, so that's a do-over.

For options, I opted to convert some March calls to call spreads assuming these stocks would tread water until they expire in two weeks. Those were MNTA, RBCN, and VSH.

For beat-up JKS, I covered the March short calls to convert the call spreads to just long calls, +43.8%.

Reversal alerts: (7) unfiltered, t2: FCN & NTAP. hlr: BEAV FFIV NFLX TBBK & UTSI.

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