Yes, but that is exactly what is wrong, the NAZ is up and while the volume in the winners is bigger than in the losers, the number of losers is larger than the winners, meaning that this rally is a "phony", and Friday and next Monday may actually look bad, particularly if we do not close above 3850, of we close under 3800, we are in real troubles, IMHO. I just further reduced exposure by selling HAUP at $12-3/8 ( a loss of 1/8), and VLNC at $16-7/8 ( a very nice gain of 2-3/8). I am also trying to sell ANCR and XIRC here.
Zeev
ANCR out at $27.5 for close to $2 prfit and XIRC out at 35.5 even. SCON and CDTS also went out in the last hour, for $21.5 and $17.5, even and a loss. Back to almost 70% cash, it feels naked, but what the hell, I'll take a rest, unless RMBS gets back to the $180 area. |
