Monday, June 06, 2005

Poetry

Nobody can rant like Stephen Vita does over at the "Alchemy of Trading" blog. Check out his Sunday night write-up. Stephen and I are both long, but hedged with a large QQQQ short right now. I got mine at resistance ~$38.47.

As Gorden Gekko pointed out at The Knight Trader, the Chinese stocks started breaking out last week, bigtime. I entered into PACT this morning, but I may cut and run if it looks like it will give a better entry at a later time.

I tried to short GOOG on Friday, I got a fill ~$279. Covered this morning @ $290. Thats what I get for trying to pick the top. It wouldn't look like a rookie move if I was right though. With everybody so bullish on GOOG, the contrary view has a strong appeal. But as with everything in the market and in life, timing is everything.

1 Comments:

At 12:03 PM, Blogger Gordengekko said...

Jon-

Those chinese internet stocks might be taking a breather today. Keep IRIS on your radar. It has recently pulled back on low volume and I see a possible flag on the chart. Next leg up could be coming soon.

Gekko

 

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