Finally able to log in....summer duldrums

The summer duldrums are now in place. Oil is coming down off of its highs and what was once the leadership is now weighing on the general market. As a result traders will shift into Financials, cyclicals, and tech. The big insititutions will keep their 50% cash or so not buying into his market. I can't blame them, why should we buy now for the long run? The next few months will probably be boring.

looking at the following:

long WFR
holding FMCN
holding OMG
holding DUG
holding PBW
holding PPCO
holding PID
FCX, DBA, POT, XME, and AUY will come down and I will be looking to scalp near supports.

Breakouts

Covered POT yesterday at $198.60. Looks like its breaking out today. phew.
sold the remainder of KONG today at $5.10. It ran up way too fast and I'm not going to gamble through earnings. Still holding DUG.

I'm looking to long POT now.
NTES, SINA, PCLN and SMN are looking ripe.

I will not short until next week. Mkt. is strong this week with options tomorrow.

update

added more to the POT short at $203.25. I will cover at $204.10 for a stop on this.

lets see how it plays out. Stocks are very strong today so this might not work out.

I had to sell a few thousands shares of KONG at $4.80 because I had 8% profits. I'm still holding a lot of KONG and still holding DUG

Ags Commodities will pull back

Added to POT short at $201.20
sold SMN at $29.25
holding KONG
holding DUG

I think oil is done moving higher for a while (meaning until about July 1st). I think the rest of the ag and commods will follow.

lets see what happens

Institutions still holding 45% cash

Those are the facts and they are also going to continue holding that cash through the summer. Be prepared for sideways action for sometime to come.

I'm short POT
long DUG
long KONG
long SMN

My stop in POT is $204.10. It is having a lot of trouble trying to clear $200. I'd like to see $170 on the next leg down. I think oil will pull back, hopefully this week. KONG is an earnings play and a long play on the weekly indicators. SMN is a technical overnight play.

Back from out of town...new positions

Nibbled at FCX today for $1/share gain. Sold SRS for a $2/share gain. Bought SPF at $4.20. Holding HOKU at $8.15 Bought NYX at $72.

Markets look like they are heading higher. S&P looks like its heading to 1440.

NYX is a screaming buy here. Not much standing in its way from today and $80 The 200 day is around $74.20 I think. check that. That may pose some resistance. But by summer this is at $80 or better.