Wednesday, February 13, 2013

Long NVDA, short CMG

Shorted CMG post earnings, @ 307.  Fairly wide stops, looking for a breach of 300, will cover near 220 or stops around 340.

Went long NVDA last night, 12.40, looking for an EPS beat, and a breakout from it's consolidation range.  The reduced capex expectations may improve guidance expect recovery in the PC hardware providers, as a leverage to the economy.

I'm reducing my cash position 8% to 5% to add to these positions. As the market continues to hold at these levels, I will continue to add more to the beta plays.