A Trio of Plays

I have the feeling I may be waiting for May to get a trigger to sell or short the SPDR S&P 500 (SPY). Perhaps the sequester possibility could trigger something earlier, otherwise we may be forced to wait for the "sell in May and go away" crowd to rear their heads to get some sort of shake out in equities. My sentiment remains the same: Don't force it here. It is death by a thousand paper cuts, so wait for a little cold water to get thrown on the paper and the risk of a paper cut diminishes greatly.

IntraLink Holdings (IL) Source: StockCharts.com View Chart » View in New Window »

I made a new purchase today, buying shares of IntraLink Holdings (IL) at $6.65. Ideally, a move over $6.90 is the entry point; however, there are earnings forthcoming this week, so I want to get a half position into earnings as I believe a good report may be the catalyst needed to break this wedge seen on price and the relative strength index. The company has been able to surpass expectations the last two quarters and seems good at setting expectations going forward that are viewed as acceptable by Wall Street, but also beatable by the company. This is a smaller name, so market orders should be avoided, as should any large entries, especially all at once. This will only be at 0.5% of the portfolio. I will use a close below $6.30 as my stop level....92 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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