In at 17 1/4 and 17 5/16 yesterday, out today at 19 7/8. I couldn't walk away from a 15% one-day profit. (Or, in Chip-speak, 30%, though I wasn't 200% long...)
"Good enough". To hell with holding this - I'm trading it again. (Though I'm still holding shares in my IRA that aren't going anywhere any time soon.)
Got a short-term crossover signal early afternoon, and didn't like the way the market closed. Tried to get short AOL on the close, but wasn't able to get an uptick at the right time.
I am going to wait-out 3COM. Will it disappoint? (Likely.) Will it then move up like MU? Or hit an air pocket like QNTM? Stay tuned...
CREAF did hold-up very well in the closing market weakness. It responded, but much less so than other tech stocks. I am only looking for a day or two of weakness, and I will probably be back in.
If nothing else, it is likely to be held near 20 till Friday's option expiration.
I noticed near the close a number of blocks sold at the bid, but they would immediately be followed by an equal-size block at the offer. As if somebody is trying to support the price using tit-for-tat trades on the blocks.
Note that I am only anticipating very SHORT TERM weakness - next couple of days, max. We may not see anything south of 19. But I didn't see it moving up tomorrow, so better to play it safe. Longer-term, the TA is looking great. |
