Hi Bonnie Bear; Wasn't there some rumor of bankruptcy
with regard to Crown books? I suspect that the same will
eventually apply to AMZN.
One of the traders in my office was up $15800 in the internet
stocks a couple of days ago. (With $400 of commissions.)
He lost more than that the next day. The temptation to
gambling is ever present to stock traders. With day trading
you quickly get it rubbed in that you only go into trades
where you have some sort of advantage over your
counterparties.
I'm gloating over a beautiful trade I made today.
Saw that WARPF going up on extremely high volume,
(which is technically very bullish), so I bought
1000 shares at 1 11/32. No trick there, but I managed
to be among the one or two guys who managed to get
out at 2 1/8, the very, very top. (Having the Level-2
Nasdaq workstation is useful for guaging when momentum
is dying out, then offering out into the last little bit of
strength.)
Maybe I'm going to survive at this trading game...
But everyday is a new day.
I've been getting my butt kicked on ADVH. I'm waiting
for a dead cat fundamental value bounce, but it is a long
time coming. It does look like the selling off is more half-
hearted now.
DELL looks like it is in the process of diving. The last
two weeks are a beautiful topping formation, with a
breakout to the downside. It is good to short, but use
a trailing stop of, say $3 above your entry price. (The
formation is a classic double top, complete with declining
volumes. It should complete for another $5 loss, or so,
over the next 3 days or so.
-- Carl (Slowly being converted into a technician. :) |
