Tuesday, April 17, 2007

Good Morning World

Sometimes I am so stupid I amaze myself.

Yesterday, I never did make the connection between Smith and Wesson weakness and the Virginia Tech tragedy. It wasn't until this morning that I realized a massacre is not good for gun manufacturers. I tried to get out pre-market, but wasn't able. I ended up selling on the open, 1500 shares in the $14.30s. My breakeven was $14.53, so this is not horrible, but I'm still kicking myself for not making the connection yesterday.

GIGM had a huge dump on the open, but looks like it is trying to recover.

DIVX is running on news. I should have added yesterday.

STKL still trying to push past resistance in the $12.50s


Good trading to all today.

***Update*** Idiotic moves ahead- I just rebought 1k of SWHC @ 14.35

2 comments:

Dogwood said...

Actually, I would expect the shootings to generate higher sales of SWHC products. If there are madmen on the loose, best be armed and able to defend yourself.

Woodshedder said...

True, and I considered that. However, the initial pressure seems to be to the downside.

I will look at the 13s to buy back.