Model turned short-term bullish 2/5/2004.
Covered all short positions, QQQ around 36.5, it was shorted at 38.2, not bad for an index stock. Individual short positions did not do well, AWE did not move, lost money on PCS and WWCA, made money on AMR and JNPR. Look like I should stick to the index stock short (QQQ, IWM, SPY) since it is more predictable. But the issue is QQQ moves slower than my long positions such as ALVR and EONC. EONC really took a beating - that's the risk of those thinly traded micro-cap stocks, I bought more around 3.1-3.2.
Also bought big position in ALVR around 11.8, expect ALVR bounce faster than market.
Bought UTSI at 34.2-34.4, it is a low-cost China telecom equipment vendor. They don't have the leading(bleeding) edge technology, but they have been able to find the low-cost just-good-enough technology for China and other third-world countries. Those market are very cost prohibitive for the most advanced technology. |
