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Lazy Trade Long & Short: TDS & DKS

November 14, 2012 – Comments (0) | RELATED TICKERS: DKS , TDS , LULU

Portfolio update on existing long and short positions 

I'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. 

Long; Dicks Sporting Goods (DKS)

Short: Telephone & Data Sys (TDS)