TECHS suffering in after hours.. I did explain about getting caught up in the euphoria of a one day rally. Across the board, internet, semiconductors, computer peripherals, computer services all giving back a portion of Thursdays gains. IRNG, CNCT, NTAP, GSPN, CMRC.. all giving back. Some good shorts may be possible but there will be a lot of stops tomorrow and traders might get in on yet another ride up after a selloff. Investing in the market for the long term is a thing of the past, when is the long term? When the market tanks even more?
Traders milk rallies, short into strength ride on downdrafts.. make money in up markets in down markets.. lose a few but no where near the amount the investor loses. Sure we stay in trades in good sectors, short term traders were not born yesterday. They know all about cashing in the swing and position trades in sectors that are riding the uptrend. They are just not led by the nose by CNBC reports on 'recommendations', downgrades and all the drivel and manipulation that are rampant in every stock, every sector and industry. We might lose 5-8% of profits here and there but not 50% or 40% or anywhere near the losses faced by the silent and suffering investing majority. So everyone was in CSCO at $2 and QCOM at 3... Those people have long cashed in or are figments of your imagination.
Now its more that investors were in T at 60, INTC at 80, EK at 65, CSCO at 85, NT at 85, LU at 70, RMBS at 120, DELL at 55. Its the swing/position traders that were in AMRI at 25, MYGN at 55, CELG at 40, CGP at 65, AZA at 65, VRTX at 60, GILD at 85.. So while the investors are comforted by the empty promise of "investing for the long term", traders are already enjoying the fruits of their labors TODAY. Investing has become a big joke and the analysts are having a good laugh at the expense of the average investor. |
