Wednesday, January 9, 2008

Got Lucky

I shorted DRYS and GNK for about five points in total. I covered near the lows. That never happens to me. But I will take it all day long. They are so washed out I will stay away from these names on the short side until they can rally a bit. Some names that look good here:

MRK- I'd buy around 67.75
CREE- I'd buy around 27.5-28
GILD- right here

Good luck tomorrow and use tight stops-this whole shindig can turn on a dime-either way!


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.