Thursday, January 10, 2008

Life is good

Don't worry I will share the bad ones, but I have to tell you DRYS and GNK do not fail to impress me on the short side. I caught them again today as they just traded like crap. The squeeze helped them both when the CFC rumor came out. I literally turned around to look in my file cabinet and GNK wiped out a $700 short gain in a nanosecond. I don't think I ever saw anything like that.Just goes to show how shorted these names are. On strength I will revisit both names,and I have no problem at all playing them long in here if the market shows strength. It's been a good week overall and I would rather be long than short. Not only am I a better trader long but I like to feel we are doing well as a country. I am choking from the negativity out there and it makes think we can put on some real longs for some serious short term profits.I caught CFC too,thanks to (one of my services)I never trade news, but I knew this was so shorted that if someone farted it would explode. BancAmerica is more than a fart. Caught MBI as a sympathy play as well for a little bit.
I mentioned INCY a couple of days ago and will be an aggressive buyer over $11.50-70 on good volume.

GRMN- over $80
SEED- over $ 9.80 i think china rocks soon
CHNR- been watching like a hawk,has been coming down orderly on low volume-could explode big time-may start nibbling tomorow.

If anybody has any comments on my rambling on, just shoot me a comment. Good luck tomorrow. It promises to be fun


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.