close ($ 169 15/16 day's high) but no cigar...
;-)
and back at an insane $ 40+ billion market cap.
never underestimate dumb people in large numbers, and always use trailing stops...
i knew i was violating all the rules ever since it fell close to the 50-dma and rebounded and i didn't put a trailing buy-cover stop (didn't want to), but since i don't really need another porsche boxter (i left almost $ 30k in profits on the table), i'm willing to experiment and keep my short position open, let's see what happens.
today, however, was an atypical day, because there's nothing traders (who sit on cash overnight) love more than big generalized panic gap downs at the open, and once you buy at the open from hysterical people who are dumping mesmerized by the vision of armageddon instilled by the media, you run them as fast and high as possible.
i played SCH today, and did great, so i didn't leave ALL the profits on the table...
that's what happened with ARBA today, it has nothing to do with somera, tradex, itwo or the ppi indicator.
the only thing that bothers me is that i could have played the drop from mid-160s to low-140s TWICE.
see you all on monday |
