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Strategies & Market Trends : Joe Stocks Trader Talk
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To: Robert Klein who wrote (219)2/13/2002 1:14:57 PM
From: Joe Stocks  Read Replies (1) of 787
 
Robert, "getting whipsawed on individual shorts and seem to do better with the indices." Thanks for the site and good point. I tend to short the indices during times like this too when the market seems to be more working against me but I think there is a trade. (if that makes sense). With the low volume and the fact the several on my watchlist are red when most all would be green during market action like this, I have moved out my stops on selected issues such as PMCS and AMAT. I also try to short higher in the resistance areas near the decade marks like QLGC at 49.25 and KLAC at 59.50. I have to admit I am also a sucker for these "terrorist threat" warnings. I get a little panicked but it seems like everyone starts buying then. Since I am concerned I figure everyone else is and tend to hang on to my shorts a little longer. Maybe be threats are just a ploy to squeeze us shorts because everyone else is buying per the vix. LOL!

Also, I seem to be reading different quarterly reports than everyone else. I listened to AMAT's conference call. I don't know how one could walk away excited from that. The management seemed to be snickering about how slow business is. (Whoops, I see KLAC is moving back up.) DE is another conference call. Nothing there to justify thinking there are going to beat FY02 but they hinted around about it. DCN is another.

Oh well, looks like someone wants a 10,000 dow pretty bad. I should step out of the way.

Joe
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