Today the Dow Jones seems to be having a tough time keeping up with the S&P 500 and the NASDAQ. The Dow is trading up by just a quarter of a percent, that is half of what the other two indexes have gained so far today. Today's biggest gainers seem to be coming from the commercial real estate sector. Shares of Simon Property Group (SPG), Public Storage (PSA) and Vornado Realty (VNO) are all up over 1.25%. These moves have pushed the ProShares Ultra Real Estate ETF (URE) up over 3.5%. Allowing me to take a 100% profit on the March $8 calls I got into last week. I had already written those off, but enough about the dumb luck we sometimes catch with small speculative plays.
In yesterday's article we recommended taking a long position in the ProShares UltraShort S&P 500 ETF (SDS), noting that the S&P has not been able to confirm a move above 1150. In afternoon trading yesterday and again so far today, it seems as though the market wants to push higher. We have closed out or position in the (SDS), but are not bullish enough to take a long position in the market. Especially in front of this afternoons announcement from the FED. So for today's trade we will suggest taking a long position in Sequenom (SQNM). This is just to try and catch a rebound in the stock, we feel it is safe to get into shares here. They are currently trading at $6.16, we have used a stop at $5.95. You may also consider selling the April $6 puts which are trading at $.55.
Yesterday we closed out most of our previously recommended positions. However, we still remain short shares of (TIVO) and short the $6 puts in (BRCD).
As traders we are always looking for advice from Proven Market Professionals. We suggest you take a look at the professional traders at GDT.
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**Investors should verify all claims and do their own research before investing in any investments referenced in this publication. Investing in securities and other investments, such as options and futures, is speculative and carries a high degree of risk. Investors may lose money trading and investing in such investments.
Comments
Good info, thanks
Insightful info...will have to start following this article on a regular basis to help me stay a little more aware of things happening in the market. Thanks!
If the market trades higher after the FOMC, the S&P could make a run at 1200. Keep an eye on the market at 2:15 EST.
Thanks for the helpful information. This can help traders and shareholders a lot.
Looking to get into SPG....but not at this price. Good article.
Thanks for the TIP
Sounds good...
Very Helpful....thanks!
keep it up
Very helpful advice.......thank you!
Great artical.. Sequenom?
Let's see if we'll hit 1200!
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