E-mail I got last night.. This my friends is why traders fail. They are like ostriches with their heads in the sand. So we make a list of the most overvalued blimps and for one day they move up on a dead cat bounce. Not to have an arsenal of potentials shorts when the market turns sour but only to harp on your 'favorite' longs will get you to the poorhouse. You have to be a chameleon in these markets. I call it "Trader Preparedness" .. This guy was more than likely long ARBA when it fell 54 points and hopefully he wasn't holding QCOM waiting for it to retest 350, or G-d Forbid BVSN or CMGI. To staunchly advocate overrated, overvalued blimps to the bitter end is financial suicide. Maybe I'm misreading but I seem to see AVNX trading just a short time ago at 170. I also seem to recall a 30 point correction in GSPN in just 2 days prior to the "hallowed Wednesday move". I also recall SDLI not so long ago at 460.. maybe I misread the chart on that blimp. Or the recent 22 point move do the downside on EXTR. We'll be seeing more of the same, but don't come when these are having "a good day" come back when they are tanking because that is where we will be shorting. We don't know in advance when these 'kings' will join BVSN, QCOM, DELL, AAPL etc. but you can rest assured at least of this hallowed group will.
No one is that insecure to short stocks on one good day. Mr. trader, come to us when the market was down 100-150 and see us shorting the 'favorites'...
No we weren't short these blimps on Wednesday. We were long a half dozen super movers but to have these stocks on hand for when the market does a 'triple digit dance' to the downside is 'trader preparedness'..
<<Maybe you should stick to longs -- your short list would have got you killed
today....>> I used the long list thanks for your concern. If you had understood the post you would have seen that this was not necessarily a short list but the underlying reason behind the fall of the nasdaq and the entire tech sector unless you haven't noticed, the techs are not doing all that well.
Symbol Last Trade Change Volume More Info
> AVNX Oct 4 99 -3 -2.94% 2,264,400 Chart , News , Msgs ,
>Profile
> Research , Insider , Options
> GSPN Oct 4 113 +13 +13.00% 1,716,600 Chart , News , Msgs ,
>Profile
> Research , Insider , Options
> EXTR Oct 4 107 3/4 +11 1/2 +11.95% 7,984,500 Chart , News ,
>Msgs , Profile
> Research , Insider , Options
> JNPR Oct 4 207 61/64 +6 33/64 +3.23% 11,824,400 Chart , News ,
>Msgs , Profile
> Research , Insider , Options
> BRCM Oct 4 241 15/16 +17 11/16 +7.89% 4,943,300 Chart , News ,
>Msgs , Profile
> Research , Insider , Options
> SDLI Oct 4 310 15/16 +20 +6.87% 5,313,300 Chart , News , Msgs
>, Profile
> Research , Insider , |
