Made money..but did I trade well?

Reasonable money making day, but coming into friday situation was as follows; was short high beta stocks , $BIDU, $CRM ,$VMW(average beta 1.70) and the latter two were up 7% on thurday. At the end of trading thurday I hedged 60% of my shorts with sp500 etfs, since I did not want to risk a bullish jobs report.

Well the jobs report was not good and the euro continued collapsing and the SP500 ended down 3.50%. So my hedge lost me money but that was fine. What bothered me was my high beta stocks should have fallen much more than the market and they did not really...particularly my bigggest short $VMW which behaved with a beta of 1.0  .($BIDU -4.25%   $CRM -5.50$).

$OIH outperformed and $GS did really well down only 1.20%.

Day´s Summary $VMW $FCX $CRM

Market went nowhere really. Early in the morning bearish comments by $FCX about china (and overnight China actually fell) reported by bloomberg and fair enough $FCX fell 4% .

Balmer from $MSFT included $VMW as one of the four "enemies" and UBS reiterated buy and upped price target to 75 from 64 , and it crushed me going up 7% as well as $CRM.

$BIDU went nowehere , neither did $APPL. Closed my short APPL.

Banks underperformed. $DIS corrected, and the euro was very weak...close to lows.

Underperformers of the day

The following behaved according to post title : $HD $LOW $MMM AAPL $VMW $DELL
In fact market was basically lifted by financials and mainly energy related stocks...$OIH up 6%.

Outperformers: $DIS $DE $AXP

Shorting $DE

Had to short $DE. Up 4% AND at point of maximum outperfomance against SP500...just have to decide now if pure short or against SP500.

What´s up with $DIS

$dis outperforming sp500 by 2% today on remarks by ceo on park bookinks continuing to trend upwards...will keep an eye for possible short versus market.

funny

$HD outperforming

Keeping an eye on $HD for a short against sp500

What´s down $JNPR ?

5% underperfomance by juniper seems a bit much. Only news was downgrade by UBS.

Bank stocks cheap?

This article makes a case bank stocks might be cheap...i do not agree...will expand on this later.
http://dealbook.blogs.nytimes.com/2010/06/01/do-hedge-funds-have-it-right-on-bank-shares/

$AAPL cheap?

Apple is up this morning while futures are down 1%...everyone upgrading them due to good overseas Ipad demand...looked at it with intent to short it...but I was surprised it actually is NOT expensive. Assuming a conservative $15 per share x 15 = $225...and it has $25 in cash...currently trading at $258, so definitly not in bubble territory....do NOT short it.

$COH good trading stock

$COH close to max. relative valuation...maybe cause $TIF had  good results? Anyway good for a "calm down" trade...

Bidu bubbly?

Is VMW bubbly?

VMW has outperformed the SP500 by the most since its post IPO madness. Looking to trade it against SP500 .