...concentrate the short bets on the weak sisters ... JNPR .. weakest, EMLX ... BRCD, QLGC and BRCM, ...the strongest
I'm short NTAP at 15.60 (earnings 11/13), looking to short BRCD at 26+, both way up from the Sept lows. Keeping an eye on JNPR, don't follow EMLX. Like you said, software like MERQ, SEBL, BEAS are looking weak in advance of the big drop this time, while storage is looking strong. Suggests that the storage group failure will be a good marker for the late stages of the drop, as software has been for several recent major drops. The "it ain't over until the fat stocks sing sad..." philosophy <g>. This assumes a strong Naz retest attempt, a weak one might not break storage.
Still accumulating shorts and Dec QQQ 35 puts, position about 2/3rd's complete. Expect to finish by Weds.
- Dway |
