Posted by: ctraderd | November 11, 2012

Watchlist- Week of 11/12/12

In the first full week of November, Barrack Obama got reelected as president of the United States, and the markets got hit hard. The Dow Jones Industrial Average fell –243.94 for a total of –1.87%, the S&P 500 fell –32.36 totaling at –2.29% and QQQ shares ended up falling –1.84 for a total of –2.82%, closing Friday on at $63.45. I closed out my position in LNKD of 2 Nov12 100 Puts at a $269.97 profit as LNKD continued to implode after releasing spectacular earnings two weeks ago. You can see the trade 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 –.63 last week for a total of –1.51%, closing on Friday at $40.98 per share. I am up just +9 on my Dec12 43 Put position and I am down –468 on my Dec12 43 Calls. I am looking to close out the trade sometime within the month. I still have until December so there is still time for something big to happen.

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2.) Exelixis, Inc. (EXEL):

EXEL gained +.21 last week for a total of 4.50%. I am still long my 1000 shares in hopes of a run to 5.50+ in preparation of the Cabozantinib PDUFA on November 29th. If the stock can get over $5, then it will soar all the way to at least 5.50, hopefully more. But right now, $5 is the key resistance line for the stock to break.

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

NUGT gained +.48 last week for a total of 3.44%. I should have added more Calls on Monday but I was too hesitant. I am currently down –540 on my Nov12 15 Calls, but if Gold has a breakout week, I can make that all back.

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

DUST fell –1.11 last week for a total of –4.33%. If Gold has a bad week this upcoming week, look for this baby to soar.

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5.) LinkedIn Corporation (LNKD):

LNKD got crushed last week, falling –10.85 for a total of –10.19% after releasing earnings of $.22 per share, beating estimates of $.11 per share by 100% two weeks ago. Despite having good earnings, this baby is still a falling knife because many people are bearish. I ended up exiting my 2 LNKD Nov12 100 Puts for a $269.97 profit on Friday.  I read a Seeking Alpha article prior to earnings that placed LNKD at $54 per share and I agreed with the article due to the fact that LNKD is overvalued. I am still bearish LNKD and will probably open another put position on Monday.

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