This may not be much, but in a trendless environment it is better to take what the market offers. I also opened a new CPWR short position. The max possible portfolio draw-down is now 1.4%. This is acceptable.
The problem is that I was so happy to see the QID trade bounce back that I did not think about selling it too in strength. Now, with the AAPL gap-up, QID will be lower today... and QID could become a "pain trade."
Also, by selling the two long positions, the Portfolio is now only short, which is risky in this type of environment.
I am now under pressure to increase the long side. However, there are not many interesting candidates for now.
The list for today is below.
We can see that DIOD, DWRE and QIHU could be long candidates.
On the short side, we have the usual NDAQ/ICE/CME
PTC could also be an interesting short: they issued earnings that were "in-line" and we can see that large players are selling.
YUM also issued relatively good earnings, but the stock reversed down in a trading pattern that bears much similarity to the CMG pattern after it issued its earnings. Not sure I would short it here, but something to think about and certainly to keep an eye on.