The Oxen Report: G-20, Durable Goods, and Michigan Influencing Market Movement - Philip Davis

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The Oxen Report: G-20, Durable Goods, and Michigan Influencing Market Movement
Sep 25, 2009 12:35 PM UTC

Philip Davis

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Via Phil's Stock World:

TGIF but what a week we have had. Thursday was another terrific day for us in the market with both of our picks working for solid 3% gains on the day. This is the third straight day of going 2/2. Our Buy Pick was DRV (Direxion’s Daily Real Estate Bear ETF). We bought DRV based on the news of the existing home sales being worse than estimates, and it was a great decision. We got in right at the news report for a price of 19.50, and we instantly turned it into 3% at 20.00. The stock jumped up more than 9% from our buy in price. The short sale of the day was a bit more drawn out. After entering early on the day’s morning rally, we shorted Shuffle Master Inc. (SHFL) at 6.50. The stock rallied to 6.70 almost stopping us out before decaying back to 9.26 right before the end of the day. It was literally a Short Sale of the Day, but we got the 3% we were looking for in this one, as well. This weekend I will update my virtual portfolio’s value, but this week alone so far our buy picks have been good for 10%.

Let’s try to continue that success today…

Buy Pick of the Day:

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