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.
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.
ReplyDeletePlease do, but give me notice so I can sell the news. I'm with Fly...I'm starting to hate this position.
ReplyDeleteMVIS has serious patent deficiencies, bringing fair value to 0.13.At the close of trading, the stock was $4.78, odd no?
ReplyDeleteJog on
Wood,
ReplyDeleteLoved that PPT link. Nice find!
-DT
newe- that was the real broker a.
ReplyDeleteah, I get it.
ReplyDelete