Biotechs really have taken it on the chin. I sold my only biotech, IMCL, a couple of days ago, just didn't like the way the stocks were behaving. The last couple of days have been very difficult. Yesterday I bought the morning dip and felt real good until the swoon at the end of the day. I remember you were frustrated that you couldn't buy that dip, but as it turned out you got another chance.
This morning I sold the rally at market open, because I had a feeling that it was a trap. At noon I moved back in and bought calls and leaps on JDSU, CSCO, EMC, and MSFT and again was feeling pretty good until the market kept diving into market close. Oh well, I think I will just hunker down and ride it out with what I've got. Any kind of trading is dangerous right now. If anything, I will be buying puts. |
