Saturday, April 27, 2013

Weekly Review

Stocks were up more than 1% for the week

But bonds were also well bid

US Dollar slid, as GDP were just one of the weaker economic prints this week.

Gold recovered a lot of the lost ground from around 1350 to 1462.  I didn't panic sell my gold positions.

However my GME short position was so badly in the red, I had to take my loss, once again the short float of 76% making this look like the most epic short squeeze I've traded in a long time.  Doesn't matter how crap the stock is, the weak hands like mine will be flushed.

Lululemon looks to be a good short again, I picked up some puts on Friday's session.

I was short going into the AMZN's earnings, and normally  AMZN shows high revenue growth + projection but negative to low EPS.  However looks like it reversed, with a healthy beat on EPS and better margins, but growth coming in about 20% in revenue.  Stock is off 7% and looks like it will break the 250 support.