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[Cirrus]

FWIW, I like this one as a position trade from the short side. I've been short a few days and I'm slightly in the green on this one. Target is 24-26ish with a 34.5 or so stop...depending on general market. Also think DOW is a nice solid short here. Still realing in profits being short NG equities. CHK is a bears' paradise and see this on 15 or lower sometime in the next dozen months. I think the whole sector is gong lower (RRC, COG, CRZO, CRK, SM, PETD, SWN, GDP, BBG, UPL, ECA, etc). That being said the entire NG sector is probably due a bounce as most in my basket are at or near key support. I wouldn't be surprised if there's a nice tradeable down move (10+%) in the QQQs between now and fall. This is not the best seasonal time to be long tech. I know its a very general call but tech seems very crowded around the AAPL trade. My only major longs are CEN.to, MMT.v, LGF, OI, KMB, PAY, DSCI and RDNT with some of these I've held for quarters. Still short some NG stocks looking to reload along with some others. I still think the market is weaker than the indexes have indicated and watching stocks like HD, AAPL, SBUX, PCLN, QCOM, IBM, MCD, AMZN, COST and MSFT for a clue. Macro watch still XRT, XOP (vs oil), FCX (vs copper), CAT, GDX (vs gold), junk bonds, IWM and EEM. I just don't get good IT vibes here but respecting the trend and willing to get shorter or longer as market tips its hand. Wrong or right, best to all...

Edited by Cirrus, 09 April 2012 - 02:44 PM.