Monday, March 12, 2007

Evening Wrap Up

+$1,644.00, or 1.3%.

Although as soon as the markets open tomorrow, I will lose double that, as I lost a round in the earnings gamble.

AOB reported today, and it seems as if the market didn't like something about the guidance. I'm not much of a fundamental analyst, so I'm having trouble figuring out exactly what is so terrible. I feel that it is probably the high short interest and the fact that the stock completed a head and shoulders pattern has caused it to be punished severely (down over 2 bucks and ~20%). I have seen this happen before, and I know that this reaction is overdone, so I bought 500 at $9.15 This brings my average to $10.55. My gut tells me that if I can get anywhere near that level tomorrow, to take it and not look back. Although my head tells me this is a real company with real products and real revenue, and if I want to wait around long enough, I'll get my money back, and then some. I guess I could always sell half to recover some capital and let the lest ride to recoup some losses. Anyway, tomorrow morning is going to suck.

GIGM reports tomorrow, and now I'm skittish as hell to hold it through the report.

MVIS reports tomorrow too.

The good news is that the Nasdaq closed above major resistance at 2400.00 I need to shake off this AOB hit and start finding some new plays.

No comments: