What Sucked Today 4252007

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April 26, 2007

Being Short. The market took off today. All Dow indexes busted to all time highs. The R2K did as well (barely on a closing basis). The market is hot here and now I’m seeing some short term highly overbought signals, however, I’m cautious on respecting those signals here.

Edit: Forgot to mention that my Q puts got crushed today – 38% loss. I was going to hold on, but just didn’t feel like waiting. I’ll make up the loss.

ICOC – Popped higher today without me on board. I’m not complaining just saying. I think its going higher here. Far from overbought.

SMDI – My rebuy of SMDI is down 1%+

AAPL – Because most of my big money was going against the market today I tend to stay away from computer screen. I missed this as an options play. My charts showed this was a good upside play going into earnings.

TIVO – Pulling back still.

Yearly Portfolio – Not moving enough. Still have time till end of May, but it better start moving soon!


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  • Phil Kempler

    i am long the QID, SDS, and DXD…..loosing bigtime……….also long 1/4 positon ONT, and full position CPST

    do you think we get bounce on the short instruements

    thanks

  • Phil Kempler

    i am long the QID, SDS, and DXD…..loosing bigtime……….also long 1/4 positon ONT, and full position CPST

    do you think we get bounce on the short instruements

    thanks

  • http://www.stockrake.com Sensei

    Yeh today showed some interesting overbought signals. RSI(5) over 92 on the daily for NDX. I’m concerned that the market is in parabolic mode ala 1999. The difference between 1999 and now is that corporate balance sheets are much better. 1999 was also a period of being overpriced while now the market is cheap.

    Bottomline: If the market is in parabolic mode, we might have to eat our losses on our short positions. I did today with my puts. Doh forgot to mention that in my post. Gotta edit.

  • http://www.stockrake.com Sensei

    Yeh today showed some interesting overbought signals. RSI(5) over 92 on the daily for NDX. I’m concerned that the market is in parabolic mode ala 1999. The difference between 1999 and now is that corporate balance sheets are much better. 1999 was also a period of being overpriced while now the market is cheap.

    Bottomline: If the market is in parabolic mode, we might have to eat our losses on our short positions. I did today with my puts. Doh forgot to mention that in my post. Gotta edit.

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