Cirrus Logic Up +23% On Sales Forecast + July 2012 Monthly Wrap-Up: CRUS, AAPL, GOOG, NOV, BTU, AAPL, CME, QCOM, APC, EXPE, NFLX
Posted on July 31, 2012 at 22:30 PM EDT
One of the biggest riser today was CRUS, after giveing a bullish forecast on sales off of AAPL’s new iPads and iPhones. Its shares popped over +23%! We logged in a +244% win on CRUS Aug 27 calls, which we bought last Thursday! The market managed to book gains in July, thanks to the big [...]
One of the biggest riser today was CRUS, after giveing a bullish forecast on sales off of AAPL’s new iPads and iPhones. Its shares popped over +23%! We logged in a +244% win on CRUS Aug 27 calls, which we bought last Thursday! The market managed to book gains in July, thanks to the big 2-day rally last week.
We also had a nice month with many triple-digit gainers, including CRUS, GOOG, AAPL, BTU, APC, MA, and NFLX. In the later part of July, we made some changes to our trading and starting trading less. The high-frequency trading by the computers are generating a lot of noise and have changed the trading landscape, especially on intraday trades. This especially affects intraday options trading. So, we have tightened up on our trade criteria, and naturally are making less trades as a result. The effect has been very positive, as we are now less stuck in front of the computer watching senseless intraday volatility and are making better trades with bigger profits!
The high-frequency trading are especially blatant during the first hour of trading. Take a look at these 2 charts:
So, if you’re actively trading, trying being a little less active in the morning. Try not to be too eager to open new position right at open, unless the whole market has strong reason to move in one direction. Even if on a gap-up, you’ll likely see a better price later. If it doesn’t come down, after a big gap-up, it is probably too risky to chase anyway. If you’re not in already, it’s probably better to look for other trades.
Here are the closed trades for July:
The market looked cautious ahead of Fed’s meeting tomorrow. Then, on Thursday, we’ll hear from the ECB. As expected, we’re seeing some profit-taking early this week. But, the real movement will probably come on Thursday. After the big 2-day gains last week, some profit-taking is healthy. We’re hanging on to cash and taking profits with the market. This market could still be gearing up for a big run. Keep an eye on the Chinese market. If the Shanghai Composite Index (SSEC) makes a positive turn, it’ll provide a solid support for a global rally.
Good night and HappyTrading! ™
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