Lazy Trade Long & Short: ALXA & FAX
There has only been one new trade for me today. Over the previous 12 trading sessions, I used the market pullback/consolidation to add to my portfolio so that when the market did push higher, I'd be in position to benefit from the move (though there was no guarantee that would happen, but fortunately the bounce did occur). So when you get the 20+ point move out of the SPX today, it isn't the time for me to start adding new positions suddenly...at least according to the manner in which I trade.
But the trade I did make was in YELP (YELP) for a nice trade at $24.68 and booked the profits at $25.68 for a $1.00/share day-trade (or 4.1%).
Below is today's Lazy Trades:
LONG: Aleza Pharmaceuticals (ALXA)
SHORT: Aberdeen (FAX) (no dividend)