I did have some REITS that were well outperforming the building sector while short the builders. Today the Reits preformed admirably and considering reenter SPG and EOP but now with the interest rates and the potential for the builders to ultimately pullback, I would see only a few days trade there if even that. AMB was my big one and it closed in a doji at the rising 50 ma so I am hopeful, but every getting hit, I'm going to put in tighter stops. Also picked up WM today figuring this is a good discount but holding NTRS short (although a doji here also). I'm prepared to play these just for swing or casual daytrades. For the building sector I see CTX as the biggest contender for a retest of the 40ish area but beyond puts I'm fearful to commit.
As far as techs I like the QQQ as longer term hold looking better than the SMH and with BBH testing the 50 ma, it looks like July 150 calls ar the way to go there. I don't scalp in the least but I do keep good stops but rather new to the semiconductor craze as I've been rather short the SOX.X and can't commit yet until we break 490 (where we failed last time) (last earnings I was short the index) but balked at a long play when the double bottom breakout expected at 490 didn't transpire and led to a another huge pullback. Very dangerous sector but I'm trying the stocks one by one instead of the sector as a whole. The NDX is a good play possibly through third week in July (I don't see the ballyhoo, just buy and hold and watch without so much fanfare)
I am weakest with the individual high flyers like TASR but learning quickly although I agree with those who see this as a trading vehicle only. I already lost on MAGS following someone here that was way too enthusiastic and effected me. I think folks should issue disclaimers constantly and not pound tables or say "you must have" 'or you MUST buy dips and we're going to the moon, or "everyone here must be in so and so" That constitutes investment advice and if aren't a licensed LLC analyst its downright illegal.
I've spent a good part of my life in Europe and the more conservative futures and euro traders and that's not the way the pros trade. Maybe IHUB is not the right place but some prolific traders here are better than I expect they even think they are as I can digest their posts and play according to my own strategies. Just not used to shouting, self-congratulation that is unfounded and very unprofessional. Just trade, keep out the embellishments and you'll be more respected. The fine trader just sits backs and allows the trades or his portfolio to speak for him. Saying one thing one day and changing an opinion a day or two later is not nimbleness its just lack of certitude and bad trading practices. I'm not a great trader but can surely tell an even inferior trader than myself when I read or see their logic, posts and use or 'misuse' of professional ethics. Infomercials are great vehicles for these traders and they should either be there (if they are doing so well, what is a few grand on a late night cable network) or post in the Investor's Business Daily or trader's journals like Active Trader and Commodities journals. However I think I might be wrong since everything seems to still be free as although I won't step into the room I'm 'hopeful' I'll get some more plays from the 'newsletter' which is free.
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