This rally has finally starting waking up some of the stocks on my limit short list and got them moving up.
Celanese (CE)
I have a nice entry of $29.01, and I'll only risk a 1.5% loss with a stop out @ $29.45. (1.5% allocation) It either breaks over the 200 day moving average (and 50 day) or does not. It's as simple as that.
Since my 'short book' has filled nicely the past 24 hours, I will consider adding some long exposure in individual equities a bit more aggressively but until we get over S&P 1120 I will focus on the index plays - since once again so much of the movement of late is violent, news driven, and/or overnight.
As for index longs I
added on this break over 1108, I am hoping for a big squeeze of shorts into the close in the remaining 30 minutes so I can dump much of it. Then if the economic data is "good" tomorrow I'll jump back in over 1120 but frankly the market is up almost 70 straight points so we are switching from oversold to overbought right quick! (just a note, I am using JULY SPY calls, not JUNE for my index speculatio since the latter expire in 72 hours)
Short Celanese in fund; no personal position
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