Monday, March 19, 2007

Watch Volume and 2400 on Nasdaq

Well it looks like my plan to play a few days worth of bounce leading up to the Fed meeting has come together nicely. That being said, we want to watch the markets closely today for 3 elements:
2400 (Will the Nasdaq retake it?), Volume (volume has been slight on up days, and bigger on down days), The Close (will the Nasdaq close near its highs?). If the Nasdaq can close near its highs on an increase in volume, then I will consider holding my positions through Tuesday. If the market loses some strength in the afternoon session, I may start booking profits.

By the way, don't you love that Stockalicious widget? Now you can see what everything is doing and I don't have to write about it!

ONSM did release news a short time ago.
GIGM I believe will trade somewhat independent of the indexes as the earnings report was great. I am looking for a breakout to new highs soon.
BWLD has broken out to new highs.

*** Update ***
My stop for ONSM was just hit. Sold 2K @ $2.59 The candle being formed today is very bearish. I'm happy to take this little bit of profit, but still should have sold the spike this morning. So it goes. Be careful if you are still long this as it bounced from resistance off the 50 day. I keep watching it for another re-entry, especially if it re-tests the lows.

14 comments:

ShortDaBull said...

you're down 25% this year (your blog profile thingy said u trade with $100k)? you have 32% in MVIS??? huh? is that for real?

mde said...

I don't think he is fully invested, which means the total does not include cash fucker.

ShortDaBull said...

what do you know goat boy

Woodshedder said...

$98,582- real time account value at 3:00 p.m.

I've got just over 20K in cash.

I'm down about 5% YTD.

And yes, MVIS is 32% of the total account value.

ShortDaBull said...

'And yes, MVIS is 32% of the total account value.'

you're insane.

Woodshedder said...

Grow some balls shortda.

Woodshedder said...

Whoops. I have 7K of MVIS for a total of 24,800 in value, which makes it ~27% of the total account. 32% is with the current positions, less cash.

ShortDaBull said...

i have big balls, I just don't want them to shrink by getting bulldozed because of bad money management.

Woodshedder said...

Ideally, I will give 20% of the account to any one stock. I do not like to have to manage more than 5-7 positions. I believe in the MVIS story, and I do not see downside below 3. If it traded below 3, I would either lighten my load, or sell it all. I typically do not suffer large losses, and practice strict money mgmt. I made a mistake buying some of MVIS too high and not selling it when it corrected. But I've reconciled myself with that mistake. My conviction tells me to hold MVIS.

mde said...

I was correct you moron. Screw you shortdabul.

ShortDaBull said...

mde, you are such a fuckin' humpbacked maggot. congrats on being right though.

ShortDaBull said...

sheddy: convction is good to have

ShortDaBull said...

although too much conviction on microcaps can be dangerous.

Broker A said...

Shortdabull is a goat-fucking noodle twister.