Night Cap

Well, I'm still fresh out of inspiration for any sort of meaningful post. As the market begins to stabilize and trend again, I'm sure there will be many charts and stocks to write about.

If you are looking for some good insight and technical analysis covering the events of the last two days, you should go to Trader Mike or Broker A. And Stockbee has a good post to get you started thinking about selecting stocks to short.

For today's trade, I initiated a position in QID and bought 2K ONSM @ $2.98 I don't recommend going long, but I feel ONSM could have some big news soon, so it is sort of a gamble, and it is sitting above support. I'm also still holding LWAY, which I really, really like. However, they may not report earnings for another month, and therefore there may not be enough of a near-term catalyst to keep the stock from getting punished during future market weakness.

Tomorrow I will try to add more QID.

Finally, I think that when I feel like posting more TA, I'm going to start with looking at stocks to short from last Monday's (1/26) Investor's Business Daily 100. I remember in April and May of last year that several stocks on that list had huge declines on the weakness in the Spring and Summer.