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Today’s Transactions:
Opened a position in POT averaged at $131.00 Stop-loss if the stock is closed below $105.00
Reason: Potash is the industry leader of integrated fertilizer and feed products with 22% of global potash capacity and 55% of global potash excess capacity. In its quarterly report this morning, the company handily beat expectation and raised guidance for as well. As long as agricultural commodity prices such as wheat and corn staying strong, the company is expected to continue deliver strong results. Downside risk includes a sudden weak in potash prices.
Added more ABX averaged at $50.00
Opened a position in DKS averaged at $30.95 Stop-loss if the stock is closed below $25.00
Reason: The company is a full-line sporting goods retailer and grows fast in the past few years. It recently announced positive same-store sales number and also raised guidance for the latest quarter. Among retailers, this company is doing relatively well in terms of stock performance. Downside risk includes weak same-store results due to broad economic weakness.
Opened a position in EEV averaged at $88.55 Stop-loss if the stock is closed below $75.00
Reason: This is mainly used as a hedge to long positions. The MSCI Emerging market index lost more than 20% before rebounding recently. However, any weakness in US market can lead to further downside.
Opened a position in SRS averaged at $109.88 Stop-loss if the stock is closed below $90.00
Reason: This is mainly used as a hedge to long positions. Despite the recent rebound, I still don’t like the outlook of commercial real estate industry as itis going to face both weak economy ahead and record level of new capacity entering the market.
Today’s Return: -1.02%
Return YTD: -26.73%
S&P 500 Return YTD: -7.91%
My positions:
PG
UTSI Jan 09 10 Call
SOHU
ABX
POT
DKS
EEV
SRS
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