Tried to buy some more OHDAD, the MM wouldn't split the bid-ask with me as the stock hit 11.2, now it's rallying. I'll leave the limit order there, hopefully it'll clear sometime next week. Also doubled up on EMC at 22.4 today (the stock, not LEAPs). If EMC drops to 16, I'll start buying LEAPs in increments, as I am doing with NTAP. It is very encouraging that NTAP did not set new lows today. Obviously, the EMC news was not in the stock, as it collapsed today to new lows, taking out the April low. Gives me a little bit more confidence that maybe the downtrend in NTAP is over, and that we are now in a bottoming formation with support at around 11.
Closed out my last short position today (NVLS puts), for a nice profit. From here on down, I will only add long positions. But I will do so cautiously, with limit buy orders well spaced out, and I will probably lighten up on any 30-50% rallies. We may be within sight of the bottom on techs, but we aren't near a sustainable uptrend. Still a traders market, but valuations are decent enough to consider taking LT positions, on a few stocks. |
