Last week ended with many stocks pushing upward based on news of various stimulus actions decided and to be implemented in many distressed countries.
Even though the initial problems are still present and not resolved, many investors seem to be willing to take a chance. That strong determination is currently pushing stock prices up but in most cases hasn’t been enough to confirm new uptrends. As a result, 2 Buy to Cover were completed and 2 other ones placed for this week.
General Electric Co. Buy to Cover done at $20.84
Gap Inc. Buy to Cover done at $27.36
Cisco Systems, Inc. will be Bought to Cover if it ends this week above $17.17
Royal Bank of Canada
Ross Stores Inc. is still being monitored, the downtrend hasn’t been confirmed.
Below is the weekly update on the positions taken so far
| Buy | Sell | Short | Buy to Cover | 29-Jun | Gain/Loss | |||||
| US | Date | Date | Date | Date | ||||||
| Google Inc | 5/4 | $596.00 | $580.07 | 2.75% | ||||||
| Sirius XM Radio Inc | 5/4 | $2.16 | $1.85 | 16.76% | ||||||
| Cisco Systems, Inc. | 5/4 | $19.12 | $17.17 | 11.36% | ||||||
| Oil Crude (Sweet) | 5/4 | $98.49 | $84.96 | 15.93% | ||||||
| JPMorgan Chase & Co. | 5/11 | $36.96 | $35.99 | 2.70% | ||||||
| General Electric Co. | 5/11 | $19.01 | 6/29 | $20.84 | -8.78% | |||||
| Avon Products, Inc. | 5/11 | $20.19 | $16.21 | 24.55% | ||||||
| Sprint Nextel Corp. | 5/25 | $2.62 | $3.26 | 24.43% | ||||||
| Gap Inc. | 6/1 | $25.26 | 6/29 | $27.36 | -7.68% | |||||
| CANADIAN | ||||||||||
| Royal Bank of Canada | 5/4 | $54.96 | $52.16 | 5.37% | ||||||
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