To All:
I'm going to try and answer a few questions and things that have been pointed out to me over the weekend!
First of all Meathead, I noticed the weekly "Doji" on DELL as the market closed! Don't worry I'm on top of all the charts and I do look at the daily and weekly charts on all my stocks! This could very well be a turning point for DELL and I have put an alert to keep a very very close eye on DELL! If anything that disturbs me about DELL the Doji would have to be it! To be honest with you I do not like it for my short poition!
Second to Paul Levy, the reason I think DELL is going to $60 to $64 is because I use a 60 and 10 day moving avg. and on a weekly chart the $60 to $64 level is about where the weekly 60 day moving avg. is! Looking on a daily chart at the moving avg., you will see that they have crosses down, but after the weekly close on a big Doji, I'm not sure about that level on this leg down! DELL could very easily rally to the $86 level where it would be at a very important resistants level! If it can not hold above $86 then my downside targets are still in place! Monday will be a very important day as far as DELL is concerned, and I may cover my short and reenter at a later date! I WILL NOT COVER ANY OF MY NAKED CALLS, FOR IF IT GOES BACK ABOVE A 100 I WILL GO SHORT AGAIN!
To Paul van Wijk, Yes I did say last weekend that AOL was a good short, and I will be saying that again this week! I do not expect to make money in my shorts the first few days or weeks that I enter into a short! Remember I try to pick tops and are willing to avg. up if I need too! In fact most of my biggest gainers in my short positions were those that I avg. up in 2 or 3 times after I got in on my first short sale! Also, Paul you stated that we are not always right, I agree with you 100%, for I have never said that I'm always right! I will list my longs and my shorts and I will let my track record speak for it self!
And to freeus, many people make money in a down market! Selling short is the easiest way and hedging a porfolio is another! I have many long positions, but I also hedge them with short positions in high PE and over valued stocks!
Go to go for now, sorry I could not stay longer tonight, but will be back about 11:00 or 12:00 CDT time on Monday!
Hank |
