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Trade Setups for June 22, 2010

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June 22, 2010 – Comments (0) | RELATED TICKERS: LUK , SGY , GLD

Heading into the open there is some bearishness persisting - but not much, nonetheless, it is something that doesn't seem to happen much these days - so I'm thrilled! My short stake is getting a little bit bigger these days with my largest position being in Yahoo (YHOO). As it stands right now, I am about 57% vested. I may look to add another position to the portfolio today if the bearish dynamics persist.

Outside of a Home Sales report that is due out this morning, you also have the Fed beginning their two-day meeting that concludes tomorrow with the FOMC Statement at 2:15pm.

Keep a clear head out there, the market is bound to continue it volatile behavior in the coming days - embrace it - it is where a lot of profits can be made.

In case I didn't mention it before, my stop-loss in gold (GLD) has been raised to 117.53.

Here are Today's Trade Setups.

SHORT: Leucadia National (LUK)

SHORT: Stone Energy (SGY)

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