Thursday, August 2, 2007

Good Morning World

Another busy day at work; another volatile day in the markets. This means that today will be another day that I will likely not trade anything.

If you follow trends, the short term trend is still down. However, a bounce from oversold levels is to be expected. I still expect the bounce to get sold, and that's how I will play this until something changes.

Here is a really funny read on the Plunge Protection Team.

Also, Bill Rempel has published an excellent article showing what can happen after the S&P has a 4.5% down week:

What Usually Happens after Big Down Weeks.

***Update*** I just sold my 1K @ $5.00 of MVIS that I purchased yesterday. This was a quick traded netting around $260.00 There was 50K sitting on the ask at $5.00, and I decided to take my money and run, which puts my MVIS position back at just less than 1/4 of my capital.

***Update*** On the odd morning that I don't check the news, I missed this- Coverage initiated on Microvision by Merriman Curhan Ford

Looks like I sold into the coverage.

7 comments:

mdawsz said...

I am seriously considering initiating coverage on MVIS. I will project that the stock could trade in the range of $2-$16. I will conclude with a statement of risk and my fair value assessment of the company.

Woodshedder said...

Please do, but give me notice so I can sell the news. I'm with Fly...I'm starting to hate this position.

Broker A said...

MVIS has serious patent deficiencies, bringing fair value to 0.13.At the close of trading, the stock was $4.78, odd no?

Jog on

Dinosaur Trader said...

Wood,

Loved that PPT link. Nice find!

-DT

newequity said...

we have a fake broker a posting.

fuck off cow tipper

Woodshedder said...

newe- that was the real broker a.

newequity said...

ah, I get it.