Actually, I have headed for the hills, until about 25 minutes ago I was extremely heavy in cash, I thought I saw the white in the MM's eyes and redeployed some (to only 50% cash), but have already taken two off the table with minimal profits and trying to get the rest off at some profits. I though that the real massacre would not start until later next week, It seems I was wrong and the massacre starts earlier. I am headed for the exit. Just sold EMLX at $82.25. So far so good, all three at a profit, though quite minimal.
I did sell CYMI at a loss at $27.125, The $27.5 to $28 area should have held, it did not, I think it could now go to $22 and possibly the mid teens ($16/$17). I also just got out of the bu$$ at $42-3/8, no bounce here either, the $41 area should serve as resistance, will try a better entry point. This market scares me.
I am carrying out a tactical retreat, took a loss of $.25 on BRCD sold at $78.5, AMCC got out even and PMCS took $.5 loss at $58.5. JDSU got out at $47-3/4 (loss.25) and NTAP a loss of $3/8. I am keeping SCMR and will add to it at $19 if it gets there. Back to 70% cash, that was close.
Zeev |
