Tuesday, August 5, 2008

Wild

I've been called a stubborn Irishman before but this is ridiculous. I wasn't long anything today as we rallied up over 300 pts. I was just hanging around with KOL,DRYS,GNK and MOS. The path of least resistance was undoubtedly up but my homework had me getting short those groups. I did ok, nothing dramatic but didn't lose. It was tough to get long because we gapped up, then traded sideways and then it paused a bit after Bernanke, and then took off. My shorts were looking great and if not for the turn, probably would have done better. PCLN posted here as a short last month, was down about 15 points in the after market on their eps report. It's trading around $97 in the after market. Check it out. Not a bad call. Wish I had some. There were some pretty nice ranges on the names I traded, but I had to be very light on my feet, and I traded a bunch of volume today.

Anybody take the lovely UAUA posted this morning?

1 comments:

BABY TRADER said...

no, but i was long CAL all day. Great market insight, keep up the good work!

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.