Wednesday, March 21, 2007

Good Morning World

Unfortunately I have two meetings today, one at 9:30 a.m. and then another at 11:30 a.m. It is really a terrible day to be out and away from my desk. I feel it could be a pivotal day. I hope to be back in the office before the Fed releases their notes.

I see that already BWLD is set to open down 1 point due to Jeffries cutting it rating from Buy to Hold. I would like to see BWLD maintain its strength and hold 58.00, as that is the pivot point. MVIS also has a PR about a shelf registration which is likely to bring the shorts out in droves.

I will be setting some sell-limits this morning to lock in some profits, and will be using some emergency stops to get out breakeven on the rest just in case the volume returns today to take us back to the downside.

10:20 a.m. ***Update*** Sold 750 GIGM @ $13.89. This was half my position.
Sold 500 SWHC @ 12.97 for a ~$300.00 loss. I'm tired of waiting on it, and the fill-the-gap traders look to be in charge at this point.
Off to my next meeting.

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