Joined Jan 27, 2008
7,266 Blog Posts

Classic ’08

Once again we have a classic scenario, as the bulls try to gain control after another move down. In my opinion, they just don’t have enough fire power, and won’t for a while.

For now, I will try to make a few quick trades to take advantage of the volatility. I purchased [[RIMM]] today as it has been beatin’ with an ugly stick, and plan on selling it into strength, maybe even tomorrow if we get a little rally. I also added [[CRM]] as a short position, because I believe in this environment, no stock deserves to trade at a P/E of 530.

It is a stock pickers market, if you don’t have what it takes, it may be best to give up trading for lent.

Note: Long/Short ideas later tonight, if you have any ideas, please feel free to place them in the comment section.

Check out today’s Chart Toppers

If you enjoy the content at iBankCoin, please follow us on Twitter