The stock market had a fabulous day today

It was an all around great day for stocks. Many people will disagree with me but I believe when there is profit take it. All prices are days end. Following are the transactions for today.

Sell 60 shares of GOOG @ 476.95= $28617.00
Sell 500 shares of DIVX @ $24.80=$12400.00
Sell 500 shares of XLE @ $57.01=$28505.00
Sell 500 shares of YHOO @ $26.59=$13295.00
Buy to close 5 contracts of YHQAY (YHOO Jan (07) $27.50) @$140.00=($700.00)
Sell 200 shares of IACI @ 32.29=$6458.00
Buy 300 shares of CROX @ $41.27=($12381.00)
Buy 300 shares of ERTS @ $59.25=($17775.00)
Buy 200 shares of COP @ $61.05=($12210.00)
Sell 3 contracts of EZQLL (ERTS Dec 60 call) @ $190/contract=$570.00
Buy 200 shares of PD @ $101.73=($20346.00)

Commission $116.00
Total transactions for today $26423.00

Portfolio

GOOG 40 shares long @ $476.95=$19078.00
CROX 500 shares long @ $41.27=$20635.00
COP 500 shares long @ $61.05=$30525.00
ERTS 300 shares long @ $59.25=$17775.00
EZQLL Short 3 contracts @ $190=($570.00)
PD 200 shares l0ng @ $101.73=$20346.00
Total positions=$107,789.00

Margin: $5525.00
Gain to date $2264.00 (2.26%)

Rationalization of trades:

XLE: Right before the election (California Proposition 87), I don't want to have exposure to CVX which is in XLE. This is why I sold the entire position.

DIVX: This stock had a 8.53% gain. I have to take all this as profit. This was a very speculative play and I am very happy with the gain.

GOOG: I think GOOG will do very well in the near future but to have such a large exposure in my account wasn't good so I took a little gain today and pared down the shares.

CROX: CROX rose very nicely and I think it might catch a little short covering at this level so I wanted to increase my position.

COP: I think oil will rally after the election. I do believe it will do well tomorrow as oil has been doing well for the past week. Conoco Phillips shouldn't have exposure to California offshore drilling so I don't think it will be effected by proposition 87.

YHOO: YHOO was marginally up today. It did not quite have the same momentum as I had anticipated. I don't think that it will do too well tomorrow.

IACI: I sold IACI for the same reason as YHOO.

ERTS: This is a speculative play. Electronic arts had a much better than expected quarter on Friday. It was only marginally up today. I believe that it will rise on upgrades. I hedged this position with a covered call and hope for a quick small gain.

PD: Phelps Dodge broke through the $100.00 mark and held in that position today. The play today is a momentum play and will be closed at the end of the day tomorrow.

RIMM: I had a target for shorting RIMM at $121.00. Fortunately it did not hit this target $120.74 was the high. The momentum that RIMM has was high and I will not short until further notice.

I hope everyone had a great day in the stock market.

Good luck

Disclosure: I am not currently long or short any of the shares aforementioned.

Note to all readers:

This post and all other posts in this blog are for entertainment purposes only. All of the stocks listed are very highly speculative, and the portfolio is not diversified and could produce severe losses if you were to invest in these stocks. None of these stocks represent a recommendation in any way. As an individual investor, you have to assume your own risk. Prior performance is no guarantee of future returns.