Matt,
>>It may trade in a range though for another week and this is where we can make 500% vs. 50% on COMS, easier said than done.<<
I think we're all looking for ways to trade COMS now. If we
could predict when it would go down a few points that would
be great, but it's hard to predict.
My strategy for the moment is to be in waiting for COMS
to generally edge up a few more points over the next week
or so. We are in earnings season, and earnings (from other
stocks) have generally met expectations.
If I see there's world turmoil, and I have time to pull out,
I will. If I see a sudden wave of profit taking coming
about, I'll pull out. But, most of the time it's hard
to see these things coming. Profit taking waves can come in
about 5 minutes and we can be down a whole $1. But, maybe
sometimes we can predict better than others. Anyways,
for the moment I will
be staying put, unless I'm sure there's a down wave.
BUT, by Nov. (closer than I realized), we'll be getting
preannouncement season. During this period, we will be
getting waves of downward pressure. Most likely COMS will
have temporarily topped out, so at that point I think
I'll be doing more pulling out, since COMS won't be
going up more (unless we are getting a few more rate
cuts than expected...then, best to just stay in a lot
more, IMO)
The hard thing is that COMS preannouncement month starts
a month earlier than the rest of the market. But usually,
COMS selling pressure starts around mid preannnouncement month.
If earlier, it's because there's something seriously wrong.
I think COMS will have a good quarter and not preannounce, so
it will dive down when some of the other big stocks preannnounce.
I think, I'll be looking to seriously trade down around those
times. For the moment, stay in, unless there's obvious gaps to
fill, or obvious up gaps or down gaps or obvious profit taking
days. Tough to do....we'll see how it goes.
joe |
