Tuesday, September 18, 2007

Short today?

So the FED has something to say today.

What to do? Wait? Another trader mentioned that 16 of the last 20 yrs, the market has fallen from mid-sept into october. He mentioned S&P in getting past 1490 could lead to a run past 1550 before october.

My (amateurish) view is be selective.
short/puts: BIDU & CMED (both had 10% gains ystrdy)
-wish i bot puts...but i worked last nite. so slept

wait on buys for solid companies:
-AAPL: just announced UK telcom. wait this out
-SNCR: somewhat overbought. AAPL deal wonn't kick in yet
-RIMM: earnings Oct 4. so stay tight til then
-VMW: if breaks below 13 EMA. then maybe buy in stages
-their earnings were awesome. already priced in

my "long" shorts/puts
-PALM: killing a dead horse. reminds me of Sun (JAVA)
-DELL: broke below it's 50 EMA.
-(MOT): can it go any lower? NOK/AAPL/RIMM rule

i'm totally waiting for another tank a la May 2006.

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