Wow, you got guts playing WCOM. I thought about playing WCOM also because you gave me the idea. I also read a few people on Dave Gore's thread calling the same WCOM play (ENRON made the same move up before belly up), but I was too chicken and not fast enough.
Regarding DRIV, I shorted it at $8.96 and covered at 8.43 for exactly $500 profit ($530 less $30 commission). Could have gotten more out of it, but it was a stop limit order and I was content with $500 net profit. If DRIV goes above $9 again tomorrow, I will not short it unless it falls back below $9 (best to short at 8.96 or 8.93 after it goes above $9 earlier in the day). Pay attention to the magic number "nine", if it clear $9 and stay above, don't jump in; wait until it starts to fall apart and fall below $9 to short, because if it can not stay above $9, it will fall back into low $8 again. It is safer to short DRIV the way I described, you eat less, but there is very little chance it will run on you.
Stock I am going long are the same 3 stocks I mentioned a few weeks ago: KOPN, SANM, RATL. They are all solid companies, I feel these three companies will benefit the most when economy/market turn around. I am in all three with 50% position (25% + 25% bought for each stock last 3 weeks), leaving some room to add more in case any ugly outside events happening and drop the price even further (example of these ugly events are either CSCO, IBM, GE cook the books, another terrorist attack, or deeper recession lingering more than 12 months, etc...). I am holding them for long term, and I just don't see how any one of these 3 stocks stay below $10 bucks 24 months from now base on current data, and forecast of market/world events. I am sure you are thinking the same line when you say "the Mother of all Technology stock buying opportunities this fall". I happen to agree with you on that, but I also want to add that the run up after the fall with not happen fast and furious, but if you have 3-5 years (or event 10 years) to sit on them, you will be a rich retiree. :)
Cheers, |
