you may be right, but its really not as easy as you make it sound..
In case you didnt notice, the ENTIRE market was lousy today. Also, on that note- semis-.. the REAL money has been going into semis for the last couple of months.. That money will be leaving semis when the rest of us start jumping aboard.. Look at INTC, AMD.. who was buying amd at 14-15 just after their incredible earnings? Now they have a double, the upgrades come, the picture is all rosey.. their selling now..
I never follow the herd... it never got me anyplace fast.. I follow the shorts, plain and simple..
why am I long MALL now? tons of shorts got in, too early in my opinion, and as the selloff intensified MALL actually bounced off its lows.. MALL is so inflated yet didnt fall below 30, and this says alot.. Look at EGGS! MALL still has a story going into tomorrow, and that will be played for all its worth.. Shorts had everything their way today- over priced stock, IPO history that shows they usually drop well off their highs of the first day, and the market was horrible today.. and they STILL couldnt get it below 30? This from a stock that went from 40 to 60 in about 10 minutes just a few days ago.. No, money on the short side will be looking for confirmation of a failure to break above 45-50 tomorrow and jump on it than.. This thing has legs and so far going up is where the power is.
again- good luck, whichever way you play |
