5/12/08

Trading Post

Geddit?!?!? (Sigh...never mind)

MELI at $51, and the short is going the right way this morning. Still looking for $45 or so as a cover point, but might take partial profits today. This stock is a real rollercoaster.

GRZ popping on the Bloomie report mentioned here. I'm looking for $2.20 or so and will take profits on half the trade block, but it flopped back to $2 just now after touching $2.11. Volatility, step this way. Remember GRZ is by far the safest way to play this saga (residual assets etc etc).

Not a trade, but a headsup. CGK.v is off a whole bunch at $0.245 on this news, which is not good but likely to be a temporary glitch more than a company killer. This is the time to buy a few shares and hold for a while.

MDR.v trading 6% lower today for no real reason. The current $2.37 level seems to be a floor. Buy here, and sell ST at $2.55 or so (though I really like this stock long-term).

The US dollar tried its hardest to rally, but there's no fundamental reason for it to hold. Back to 73 on the USD index. Copper spot rallied in about a minute from $3.74 to $3.80. Trade gold, dudes!

Please remember the difference between trades and long-term investments, and do your own DD.