[Day] NOTES

Gio Wed Aug 16, 2006 5:51pm EST Comments Off on [Day] NOTES

Massive buying everywhere, yet I still managed to short some stocks (say what?!)
I covered my day trade short in MLS too early. The so-called “support” at 13.55 was weak; I should have noticed the weakness that by looking at the 5-minute chart which basically says “no support anywhere.” Anyway, I guess it’s good to stick w/ clearing day trades an hour or so before the close.
Major short squeeze going on. The best I’ve seen today- Empire Resources (ERS). Stock is still heavily shorted.
Ilumnia (ILMN) is searching for support. Best guess is $31.50.
The SOX index is on a mad dash to fill in the gap to 460. Clearly the semiconductors own August. Longs will feel nervous between 450-460.
I believe the bears are hurt real bad… therefore, any pullback in market will be marked as profit taking. Go ahead and add to your longs on profit taking.
Hansens (HANS) broke through $30 making me look bad.
Netlogic (NETL) will fall hard once profit taking hits the SOX. This stock is riding the tech wave. Support at $26.
NVEC is holding steady above $20… wait for next breakout.
Let the race begin… Palm (PALM) versus Research in Motion (RIMM).
An unusual paradox: Oil is down, energy stocks are up.
Nobody has noticed that gold is slipping.
Market kicked my butt today.

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