Thursday, March 29, 2007

Evening Wrap Up

-$696.00

This loss was due mainly to MVIS.

I am now 57% in cash and I refrained from buying anything this afternoon. The Nasdaq bounce from 2400 was nice to see. However, the index was struggling to close in the green, and the after-hours action looks like things will drift slightly lower. I considered picking up some QLD to play a Nasdaq bounce tomorrow. I did not buy any because I have a meeting at 9:30a.m., and I don't want to get caught on the wrong side of a gap down. Furthermore, the markets still seem to be struggling for direction. The one positive I could determine from today was that volume was extremely light.

I will spend some time tonight reveiwing charts, and will post any interesting ones. At this point it will pay well to be able to spring into action, either short or long, when the trend is again able to be determined.

4 comments:

Robert said...

I too wondered whether I should pick up some QLD...but I'm not so sure we're headed up from here.

At any rate, I'm having a great week...after I got out of ONSM for a profit, I picked up 3000 shares of DNDN at about $3.70. I don't know if you've been following the story, but I for one can't wait until the opening bell tomorrow :)

Woodshedder said...

No, I haven't been following the story! Why didn't you come on here and tell me BEFORE the big news lol...well enjoy the gains!

Robert said...

Haha! Thanks. Actually I thought about posting a comment here about it, but as you probably read, approval of Provenge was *far* from assured. It was 50/50 at best, and I didn't want to be responsible for losses if it were not approved.

Good trading today!

Deborah said...

As soon as I sell something I find something else to buy...

I never remain in cash for long...

http://caps.fool.com/Ticker.aspx?ticker=CNMD