Evening Wrap Up
T0day I had the chance to trade a little. I bought 300 CFC, 100 shares at a time, to average around $20.50. I wish I would have bought more. I unloaded 200 shares around 21.60s, and then bought another 100 shares @ 21.83. I'm going long 200 shares into the morning. It is definitely a gamble due to headline risk, but one I'm willing to take as I feel there will likely be more short covering.
I also picked up 50 shares of QLD @ $89.66. A nibble, if that.
With the Dow and Comp trading above their 200 day moving average, and the SPY still beneath it, things are still very sketchy. I still do not want to be significantly long anything overnight.
Also, I'm starting to see some good shorts develop, such as GES and ODFL.
I was reminded about BEXP, my hurricane play. I sold it all Monday a.m. in the pre-market @ $4.55 for a small loss.
8 comments:
Would 100 QQQQ be the same position as 50 QLD? I haven't traded the QLD but there is probably less slippage and more liquidity in the QQQQ. What do you think.
Wood,
I have been talking to myself at my new blog. Good times. You can check for my VV and telechart scans there nightly.. Will see if I can add anything of worth to the blogosphere.
Hey, listen to the Philip Tirone interview 8-18-07 here http://www.thenorrisgroup.com/radio.html. Just click the Radio Player to get player up and click on the Philip Tirone interview. Trust me, it will give you some insight into what a lot of the lenders are facing in the next 12 months. They are still in denial about how bad its going to get.
M- they don't seem to make a direct conversion like that. For example, QLD up 2.82% while Qs up only 1.05%
QLD definitely prone to slippage.
Good radio show Sierra. Thanks for posting the link.
No problem. Just good to listen to someone who is facing these challenges on a day to day basis.
CFC up big AH.
Shed do you still have it?
Wow CFC is really moving this evening. I also tried a hurricane trade earlier this week and sold out about flat on GLBL. Oh well, maybe next time.
Aaron
GrowYourFunds.com
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