Tuesday, May 15, 2007

Tuesday Morning

Can't fool the market - at least not the NASDAQ - watch them tech shares go down. The other thing that was going down was BGG and I should have sold it out two days ago on the hanging man on 5/11 but I didn't. Arrogant fool that I am I believed - so much for believing. I sold most of it and am keeping a handful of shares just in case it might resume the march. I still don't trust this market and I think that that we need a 4 or 5 day correction.

I added to USU on a 15-minute bar cross over at the open and I added onto AV on an S1 hit and bounce on the open. Both those trades appear to be working out.

ANO continues to do nothing and GGB is now my only steel stock and so I'm going to hang on to it for a bit. I think it is getting ready to breakout.

Other than that I think I'm done for the day so I'll see you tonight at the Wrap.

Update - I just can't get enough of it - sold off ANO because it isn't participating (have I ever mentioned that I hate cheap stocks?) for an $86 loss and bought JNPR in its place. JNPR is one of the stocks from my must buy list ("must" in the sense of when you need a quick lift). I'm planning on dumping out of AV too - but I need another 2 cents to cover the round trip commissions. I'm fairly certain I'm not going to get it today.

Update 2 - I dumped out of AV for a $40 loss - didn't get the 2 cents and in fact lost another 2 cents - decided to let it go before it got the best of me. I just couldn't believe.

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