Portfolio Management for May 2, 2014

My objective yesterday was to manage the CMG short position in a market that was probably going to continue to bounce, so I bought a long TNA position at a somewhat high price, onlu to see the ETF plunge much more than the CMG move. I therefore decided to sell TNA when it bounced up and later in the day, entered a long UWM position, which is only a double leveraged ETF. That was a lot of sweat just to manage risk.

I was also closely watching ERX for a possible short trade, as the large oil stocks were under selling pressure, but decided to wait for the CVX earnings today (and also the jobs report.)



The list of possible trades is below. I am interested in a SCTY long and an UA short. Note that SCTY will issue its earnings in a few days.

A long XHB and a short ERX could also be interesting.