NTIQ a 'fresh' short called just yesterday and its hammered already from 102 to 85 in two days and probably more to follow.
Watch List November 16
6> NTIQ - NETIQ CORP Price= 102.9
NTIQ is overbought here. Although on balance volume is strong, it won't take much to all this a short play. Two days of upside and NTIQ will be a short at any sign of gap down or move down in the first reversal period.
Well we could wait for bottoms in JNPR, EPNY, IWOV,CMRC, NUAN which will always be false bottoms. We shorted them and will go long just enough to short the next rally. INTU, ADI were fine as was ADSK today but look at AGIL. So who is to know? I got an e-mail yesterday that said shorters on AGIL will head for the hills this morning. I don't know why. I don't think they headed anywhere and when it was time to pick up AGIL we did but not BLIND or when someone calls "coast clear" and 25% correction in two days after a number of upgrades is very suspect.
We have upgrades galore, price targets set to 'entice' and yet the stocks keep falling. JDSU we shorted for double so who's to say we have a bottom. Especially when there are no prices given for entry by analysts. That way they don't commit themselves. Biotechs are coming out with a "mutual fund" for genomics... while we shorted them for gains. IDPH, MYGN, AFFX, HGSI.. are they ready? I doubt it. Selective buying maybe for pharmaceutical stocks already earning money and not with impossible P/E levels. If you can't play both sides on this market or at least wait for a solid rally, than all LONG positions will reverse to the downside and you will be left with buying low and selling even lower. Still like a comfort zone in the financials, insurance and health care. Stocks that rally like NTIQ, NUAN or EPNY are setting themselves up as short candidates. We did not wait long for NUAN, but NTIQ took a few weeks!
We enjoyed SDLI being cut 1/3 even as it was upgraded, recommended and hyped. I have heard a bottom called in A for weeks and they are still dropping. In after hours, stocks are still dropping so I would not catch falling knives, leave them for the anaysts... but more than likely they are shorting. |
