Posted by: ctraderd | October 28, 2012

Watchlist- Week of 10/29/12

The markets once again got hit hard as October closes out. The Dow Jones Industrial Average fell –202.38 for a total of –1.52%, the S&P 500 fell –20.95 for a total of 1.46%, and QQQ shares fell a total of –.365 for a total of –.55%. I opened up a long Nov12 15 Call position in NUGT and I made two other trades on the KERX stock and SPY Nov12 141 Calls. I came out of this week with a realized profit of around $92 on my two day trades Friday. You can see the trades on my profit.ly page. Before making any decisions based on this article, read my disclaimer and do your own research!!

1.) iShares MSCI Emerging Markets Index (EEM):

EEM fell –.66 for a total of –1.57% last week. My Dec12 43 Calls are down –338 and my Dec12 43 Puts are up +3. Overall, I am still down –335 on the trade, but there is still time for that to change.

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2.) Exelixis, Inc. (EXEL):

EXEL gained +.13 for a total of +2.78%. I am still long my 1000 share core position due to the fact that we have entered November and EXEL has the PDUFA of Cabozantinib on the 29th, so there should be a run-up into the news. My price target for a sale is 5.50+.

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3.) Direxion Daily Gold Miners Bull 3X Shares (NUGT):

NUGT fell –.72 for a total of –4.55% last week. NUGT does whatever GDX does, except 3x the effect. (ie. GDX falls –1%, NUGT falls –3% and vice versa). Due to this fact, NUGT is very volatile. I am holding NUGT Nov12 15 Calls in which I am down –270, but these babies move around .50 a day so that should change before expiration.

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4.) Direxion Daily Gold Miners Bear 3X Shares (DUST):

DUST gained +.68 for a total of +2.65%. DUST does the opposite of what GDX does, except 3x the effect as well. (ie. GDX falls 1%, DUST gains 3% and vice versa). Due to the fact, DUST is as well very volatile. I am not holding any positions in DUST, but that may change within the next 48 hours.

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5.) Sarepta Therapeutics, Inc. (SRPT): 

SRPT continues to close the gap from its magnificent leap of 199% a few weeks ago. We only have about $6 more to go before the gap is fully closed. SRPT fell –2.14 for a total of –8.70%. Unfortunately I did not pick up any puts, but those of you who did, congratulations. If you have been following my advice from the week after the jump, you have probably done very well. 

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Disclosure: Long EEM Dec12 43 Calls and Puts, Long 1000 EXEL, Long NUGT Nov12 15 Calls, Possible adds in SRPT and DUST within the next 48 hours.


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