Rashid ,,that is the danger of too little knowledge yet finding comfort in one lucky day of trading..
As I have stated,, those who have shorted CMGI ,,did it at 43 - 46... and only thing that saved their butt was announcement of Starr report.. do not forget that ,, it had nothing to do with TA or where CMGI was going towards the earnings..
You can also look at strong closing on SEEK , LCOS and ATHM ,, also GCTY staying above it's DMA today as an indicator,,, also ,,if you remember,,I shorted AMZN at 132.. here shorting AMZN as you get closer to 60s,, AMZN might just come back 10 points tomorrow and bite your butt,, yes AMZN is over priced,,yes some MMs who are short on it down graded it ,, but you wonder,, is the buy really a sell and a sell really a buy ?
Best is to do day trade on shorts and cover near closing ,,on commons,, keep taking intra lows out at same time going long ,,instantly ,,
Do not be too snug my friend ,, it takes experience,, and one lucky trade does not make you an experienced,, you have to have paid with blood in this market ,, to know and make a decision ,,
INTC and ORCL came in strong after the bell...
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