Close position: MXIM

I closed at MXIM yesterday at 24.31, as this trade has pretty much gone downhill right from the start. In hind site I should have closed out earlier as it did not do what I expected. As for now I only have the one open position in BIDU. I think a few good opps might be creeping up so will be looking to get into another position next week.

Entry:26.00
Exit:24.31

Greek turmoil lead to big rally in bonds

Brutal day yesterday if you were a spread trader. So it just happens that the day before I thought we would hang around those levels in Euribor spreads, but just the next day we broke those levels and continued lower and lower. Ted spread which is Euribor vs Schatz has been in a 8 tick range for 2 months broke out in a massive way yesterday to the downside, pretty much wiping out all those who are mean reversion traders.
If Greece turns out to be the next Lehman style collapse, then we are going to be in for some serious volatility. Right now I don't want to try predict whats going to happen next more to just react on it.
As for the portfolio I guess I'm lucky I've only got two positions open, but I'm probably going to get out MXIM today or tomorrow as its been a bad trade from the start. As for BIDU, just going to hold that one.

Bund, Schatz and Euribor Analysis

Stock Buy: BIDU

I re bought BIDU today, buying back the half I sold at 138, at 119.40. We have have a sharp correction in BIDU, and I think the growth potential is still there, it is also at the support level of 116-120. I'm looking to hold this for a while longer, and possibly buy more if it gets close to 100.

Entry: 119.40

Stock buy: MXIM

I initiated a long position in MXIM today, we have come off quite a bit in the last week, and the price has gone outside its Bollinger range, thus I'm looking for a snap back in the next week. But will be quick to bail if this doesn't happen.

Entry:26.00
Exit 24.00
Target 28.00

Market update

Been a bit quiet for the portfolio lately, yet I have actually had a couple I have kept my eye on with buy stop orders to get me in, but the down trend in the markets have weighed on these stocks and luckily have kept me out. I'm looking at PDCO right now, it is sitting on support but waiting for the bounce to give the signal to get in. In retrospect although I only have a small position In BIDU open I'm pretty happy I'm not in anything as a lot of the data and economic news is weighing against stocks.
I've been mainly focusing on my day trading as I prefer to be flat at the end of the day. On Friday we had a terrible non farm payroll figure which initially dropped stocks, and bonds rose. But there was a big reversal and we ended close to our lows in Bunds which pretty much shafted many traders playing the second wave.
Think right now its a day traders market, and holding is a bit of a hit and miss strategy right now.
I will be looking to add a couple of positions by the end of the week, hopefully something good comes up!

Close position: RIMM

Closed my position in RIMM today. There was the initial bounce but that quickly faded and with the spate of bad economic news coming out, think its time to clear it.

Entry: 43.19

Exit: 40.72