LT - I joined you and unloaded NBR and SDC near the close today. Still have DO short but may cover it tomorrow. If nothing else, this group has approach one of their prior two low's and are due for a technical rebound anyway. However, if they bounce irrationally high and crude price keeps falling, I will reshort them more.
Alski - don't know anything about the buyout rumour for WDC but I want to tell you another discipline story today. I started the day had MXTR short limit at 13 7/8. After the early downdip had gone nowhere but turned around, I canceled the short order. MXTR closed at 15 1/2, its 52 wk high. MXTR together with all the DD's, from component makers to disk makers, all got a tremendous boost today that would never have been predicted on the chart. I looked at the same charts on all of them last night before singling out MXTR as a short. The buyout of WDC by QNTM or SEG is entirely possible but I'm going to stay out of this group for a while because their irratic internut-like trading pattern is not giving me any advantage.
INPR - actually it closed at its immediate resistence today. Its next resistence, which is more significant, is at 6 7/8. Its intraday chart is showing good strength. Would I scalp it? Not sure.
TWLB - sold 1/5 of my position and will most probably sell the rest at open tomorrow. Waiting to roll over my NBTY Dec 10 put to Jan 10.
SEV - it closed outside of its lower BB today. Technicals says it will not close lower tomorrow. It should gap up tomorrow but as long as there is no news out and crude remains under pressure, SEV is not going anywhere but down. I am prepared to nibble down on this, with a completely different strategy than my scalping technique.
PRMS - being a retail stock, its inability to snap back today was a bit of a surprise to me. However, I'm monitoring this closely. Near term support is 12 - 12 1/2, resistence is 14 7/8.
Overall, the steep drop we had yesterday did not get confirmed today. As I suspect, the amount of money waiting to rush in to buy any dip is so great I don't think we have seen the maximum bubble yet. LT, I hope you ate your bird yesterday because if you hadn't it resurrected and walked away from you today! <GG> |
