HI CLINT!
Read somewhere that my brokerage(DATEK) was not the only one having technical problems. There were a handful others around too. The sheer volume must have overwhelmed the servers. Well in the end i ended the day without a position and with less money. This afternoon I looked over the charts that made the largest losses of the last days(MERQ,HLIT,NEON,CPTH,VNTR...)and i just couldn't believe why i was actually buying these stocks. Today was like waking up from a bad dream. Very sobering!
Also ran a simple scan today for stocks that fulfill my volume criteria(>300k average) and were trading above the rising 50dma and still have a rising 25DMA. None of the stocks i mentioned above fall in that category. Why did i want to buy them? I'm not good at FA. I leave that to people like you and Harry who understand a lot of it. So i go by the charts...but why then not buying stocks that are strong chartwise? You can't answer that...i don't know if i can answer that.
Interstingly enough the strongest group in that scan is OIL related, followed by banks, some semis, and most of the tech generals(csco,dell,intc,sunw,orcl etc.). No biotechs, no internets, no fancy names like Turnstone,harmonic light, mercury,Siebel Systems...
Just an observation!
I lost too much sleep the last days and will sleep in tomorrow and have a nice breakfast with my wife in the garden...when the market was down so much it makes you realize that there are other things in life that are more important than money(if food,shelter etc is provided for).
Stefan |
