Portfolio Management for May 8, 2014

I am sorry to have to take you through all the little changes that I make daily in the portfolio, with no consistency as to the long-term direction. The portfolio is making steady progress and is back to its highs, but there is a great cost in terms of blood pressure and shifting trading techniques. Indeed, the more I act as a day-trader, the harder it is to recognize a longer-term trend and stay in it.

The portfolio is back into a slightly positive position. I sold the long QID and TWM yesterday, but opened a short 1/2 position in AMZN and a long PCYC. The AMZN position does not have much potential, especially in case of a tech sector bounce. Hence, I will need to manage it.

PCYC looked interesting as it managed to hold its own in a down market. Some of the long trade ideas bellow look really interesting in case of an oversold bounce. I do not have time to go through each of them, but I intend to trade the long side today. On the short side, AMX is telling us something. If course, all eyes will be on TSLA.