If you're short, I'm the sucker going long....

Thursday, February 28, 2008

nasdaq seems like it's leading..... I just went all in.... see if we can loose some real money today.

2 comments:

Tony said...: You mentioned SMH looking better yesterday. I'm looking at TSM and it looks like the end of a A-B-C pullback. I realize there is a lot of risk in long positions, but I'm thinking of getting in long at 10.00 to 10.05.

Also, your pro-con on Gentle Ben was great! Barry Ritholtz has a fictionalized acct of Senate testimony if Ben told the truth:

http://tinyurl.com/28fas8; February 28, 2008 at 12:33 PM
Eric said...: we should get a mid day (positive) correction right now... or maybe some range bound action..... but putting more money to work short in the last 2 hours of the day... this is tough...

I suspect a move on the spy to the 137.25 ish range... Probably in a 5 wave move... which will have ABC look to it....

Another possiblility is maybe range bound till the 2:30 EST... in the 137-136.50 for a while....

I just think that we will probably move higher for a bit here today.

The Semiconductors have lead us down for 6 months now... I wouldn't touch them....

My comment about their stregnth was as an indicator about underlaying stregnth in the market.

TSM looks good as a stock though.... but maybe buy it when we get to the bottom of the trading range down at 12200 on the dow....... if we get there.; February 28, 2008 at 12:51 PM

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