Latest positions (and Trade Alert – A non-emotional bite)

You’re too deep in
You can’t get out
You’re just a poor girl in a rich man’s house

Uh-hoo, uh-hoo-hoo, uh-hoo-hoo-hoo
Uh-hoo, uh-hoo-hoo, uh-hoo-hoo-hoo

Yeah, baby, I’m crying over you 
Don’t you know promises were never made to keep
Just like the night, dissolve off into sleep
I’ll be your savior, steadfast and true
I’ll come to your emotional rescue – Rolling Stones

I’m sick of Apple. Or more specifically, I’m sick of fighting the Apple. These swings, rallies and sell-offs have gotten to be utterly exhausting. The say the opposite of love isn’t hate, but apathy. And I’m almost apathetic about AAPL at this point. Maybe that’s a great contrarian signal. At any rate, emotions, including love, hate and even apathy are the enemy of the successful trader, so we can’t let ours get to us. I’m buying another tranche of Apple calls this morning, bidding for the April $650s or so. Almost makes me sick to do so at this point. Which leads us to the other point you’ve heard me make so often — the hardest trade is often the right one (as long as the fundamental reasons behind the initial trade/investment are still in tact, that is).

I expect iPad Mini’s are maxing out on sales and are actually in enough supply that this quarter’s numbers will have to go up. Same for the iPhone 5 sales right now. So my fundamental catalyst into year-end remains in tact. So I look past my emotions and follow the playbook. Doesn’t mean I’ll be right about this trade. But over the past 1,000 trades like this I’ve had a lot of net success and over the next 1,000 trades like this I expect and hope to do the same.

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Here’s a list of my latest positions in approximate order from largest to smallest. I give each stock a current rating from 1 to 10, 1 being “Get out of this position now!” and 10 being “Sell the farm, I’ve found a perfect investment” (there will never be a 10 rating, because there is no such thing as a perfect investment, of course). Anyway, here’s the list:

Longs –

  • Apple (9)
  • Facebook (8)
  • Amazon (9)
  • Sandisk (9)
  • Google (8)
  • Fusion-IO (8)
  • Lindsay (8)
  • Baidu (7)
  • Broadcom (8)
  • F5 (6)
  • Nuance (7)

Shorts –

  • Apollo (8)
  • Dollar General (8)
  • Dollar Tree (8)
  • JPM (9)
  • LPS (9)
  • MS (9)
  • PSO (8)
  • GLD (7)
Binary Outcome Trade –
  • Long MSFT calls and puts – (8)
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