Shakey Market!?!?!

By Brett Goldstein on Oct 23, 2007

As you notice, I have not posted too many charts the past week or so. The reason is because I am very skeptic of the market still. I have been mainly day trading. I was short aapl, but followed my rule not to gamble on earnings and listened to Steve and it was a good thing I did because aapl went flying and I was able to short 300 shares pre-market for a quick gain. Every day that the market gaps up, I have been fading the gap with a short, and book profits quickly. The market went flying today and I really think tomorrow will be a good short day. I am looking to short the momo stocks pre market. They tend to go down as fast as they went up. I am going to put a chart of NYX up that I bought a few days ago and still like the chart. VMW is another stock that I have a small portion of that I will acutely ride into earnings with which is tomorrow.

Also congrats to all who bought AMZN featured here August 21, at $77.
It hit $101 today before going down after the earnings.
Also congrats to all who bought SPWR featured here June 22, at $63.
It hit $109 today.

Also there is sometimes a confusion when I post a short on the blog. Most of the time (except for FED) the shorts are swing set ups because I believe the stock is short term overbought. If there are ever any questions just ask and Ill try to comment back in the comment section.

This entry was posted on Tuesday, October 23rd, 2007 at 8:24 pm and is filed under Annotated Analysis. You can skip to the end and leave a response. Pinging is currently not allowed.

13 Responses to “Shakey Market!?!?!”

By Brett Goldstein on October 23rd, 2007 at 8:30 pm

I am holding into earnings and breaking my rule because my VMW position is very small. So worst case scenario wont be to damaging.

By Thomas on October 25th, 2007 at 3:57 pm

Could you elaborate on your gap up shorting method? Thank you!

By Beth Potts on December 20th, 2007 at 1:34 pm

I didn’t have any trouble with stocks around that time. But wize trade helped a lot though. I will say, that I did lose more than I usually do though. I tuned into the lying earnings reports.

By Jesse Sanchez on December 26th, 2007 at 5:01 pm

I bought stocks at all time lows too. I didn’t get in on amazon though, because I jsut started wizetrading a couple years ago.

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