I thought we did most of the bounce yesterday when it reached $51 or so. In the meanwhile however, just before the open, I got back into IDPH at $60 flat, hoping the bio tech are going to join the party. Today is expiration, so we should have some "fireworks". Since we did not get at all the "mild retracement" I expected this week, I thik we may go straight to the 2850 area and decline next week, till about Thursday, then we rally again itno the FOMC meeting. At least that is how I am going to play this one.
Zeev
Sold CMRC on the opening at $28-3/4, not only we are opening near 2850 on the Naz, but CMRC should have a lot of problems in the $28/$30 area, if I remember Tim's numbers correctly. Apart of that a 37% gain in one day, is more than I expected of this one, I thought I'd play it between $21 and $25 for few trips, but it gapped up big. |
