Written by Pat McCubbin
Exact Stock Picks
It ain’t easy being green
We said 1040 was the level on the S & P 500 we needed to watch, and when it broke the floodgates opened up. I guess we just found our new resistance. The second quarter ended with a real thud and with it being a short holiday week it may be difficult to find any real momentum. After the jobs report on Friday most of the traders will be packing up and heading to the lake.
We opened up one new position today to bring the portfolio back to its intended size. We purchased 100 shares of Companhia de Saneamento Basico do Estado de Sao Paulo (SBS). Along with the stock we purchased a protective put option to lessen our total risk on the trade to around 6%. Take a look at the chart.
We rarely find a company that shows this type of strengh over a long period of time in such an unforgiving market. It was up over 3% in today’s session until the late market sell-off brought it back to opening levels.
Let’s take a look at the chart on our short position on Dril-Quip, Inc. (DRQ)
It’s too bad the sell-off in the market didn’t start a litter earlier. This stock has been on a pullback since it hit its resistance at $50. It may have retested earlier support levels around $42 and we could have covered this stock for a nice profit in only a couple of days. There is a very good chance the market’s will open weak and we may be able to take some nice profits on this stock.
The rest of our stocks were all up or down no more than 1%. A fairly uneventful day overall.
We want to take this opportunity to welcome all the new subscribers that have joined ExactStockPicks this week. We look forward to a long and prosperous relationship. Thank you again for your trust and support.
Have a nice evening and we’ll talk to all of you again before market opening!
June 2010 Recap
6/01/10: Sold short 200 shares of Cognizent Technology Solutions @ $50.29
6/29/10: Bought to cover 200 shares of Cognizent Technology Solutions @ $50.79
Profit – ($100)
6/21/10: Sold short 100 shares of Cephalon Inc. (CEPH). @ $60.50
6/24/10: Bought to cover 100 shares of Cephalon Inc. (CEPH). @ $58.98
Profit – $152
6/22/10: Sold short 100 shares of Nike Inc. (NKE). @ $73.61
6/24/10: Bought to cover 100 shares Nike Inc. (NKE). @ $70.00
Profit – $361
6/1/10: Sold short 100 shares Union Pacific @ $71.96
6/4/10: Bought to cover 100 shares Union Pacific @ $69.68
Protective Call Option: ($41)
Profit – $197
6/11/10: Sold short 100 shares MercadoLibre Inc.@ $57.50
6/11/10: Bought 1 June 57.50 call option
Position Expired
Profit: ($160)
6/2/10: Sold short 200 shares Thoratec Corp @ $44.00
6/4/10: Bought to cover 200 shares Thoratec Corp @ $42.70
Protective Call Option: + $300
Profit – $560
5/27/10: Sold short 200 shares Jinpan Intl Ltd @ $15.83
6/07/10: Bought to cover 200 shares Jinpan Intl Ltd @ $15.14
Profit – $138
5/25/10: Bought 100 shares ConocoPhillips @ $49.00
6/10/10: Sold 100 shares ConocoPhillips @ $52.57
Profit – $357
6/14/10: Sold short 100 shares Concur Technologies @ $43.60
6/14/10: Bought 1 June 45 call @ .25
Position Expired
Profit: ($165)
5/24/10: Bought 100 shares of Baidu @ $72.18
6/10/10: Sold 100 shares of Baidu @ $72.32
Profit – $14
5/20/10: Bought 200 shares Quest Software @ $18.75
6/10/10: Sold 200 shares of Quest Software @ $18.75
Profit – 0
6/7/10: Bought 100 shares Overstock.com @ $19.65
6/11/10: Sold 100 shares Overstock.com @ $21.66
Protective Call Option: ($140)
Profit – $61
6/4/10: Bought 100 shares of Valeant Pharmaceuticals Intl. @ $ 46.54
6/14/10: Sold 100 shares of Valeant Pharmaceuticals Intl. @ $47.50
Protective Put Option: ($85)
Profit – $11
Total June Profit to Date: $1426
TEN Exclusive: Portfolio Update – 6/30/10 is an article from: 
