Monday, July 2, 2007

Nasdaq Closes 2 Points from 52 Week High

However, the volume on the $COMP looks to come in tepid, at best. Maybe the bears headed out today to buy some fireworks? I think there is nothing more American than our Technology Index hitting new highs as we go to the holiday celebrating our independence. Hmmmm..... When I put it in those terms, it almost makes it un-American to be a bear. That just goes to show how easy it is prove just about anything using eloquent rhetoric and deductive fallacies.

Today, for the first time in a few days, I made some trades. I just couldn't resist with the market plowing on upward.

I bought 500 ALVR as a breakout play @ $9.62, then added 250 at the close @ $9.87.

I also picked up 500 PFWD, another breakout play, @ $16.92. I've traded this one before. It looks like it is done consolidating.

Then, I added 250 shares of GIGM @ $13.70

I still have 41% of my portfolio in cash.

Today MVIS retraced some of Friday's gains, on about 2/3rds of Friday's volume. This is normal, and to be expected. There are still warrants to be liquidated, and there are likely to be many shenanigans to be witnessed as some of the 5 million shorts begin wondering if they are going to stay short and chance a contract announcement or gamble that one will not come as planned.

7 comments:

Scripophily said...

This warrant period feels like having to walk your dog while experiencing leg cramps. I won't spoil the analogy with an explanation, but trust me.

Woodshedder said...

Scripo, I agree. If you don't walk the dog, he shits in the house. The leg cramps suck, but aren't as bad as shit in the house. lol

mdawsz said...

Why hasn't this blog been updated since Monday evening?

Woodshedder said...

Why hasn't your blog been updated since June 5th?

mdawsz said...

Has it really been that long? Weak I know. Man, mvis really shit the bed last week! I read over your blog, lots of good stuff. Looks like your mechanical system is getting off to a decent start. Nice.

Woodshedder said...

Thanks. However, I'm still using my discretionary system. Those results are from discretionary trading.

MVIS did a nosedive. I wasn't that surprised, considering almost every stock that gets diluted pukes for a bit before partying again.

Your RIMM sure looks good!

ShortDaBull said...

I believe woodshedder has a man crush on mdawsz.