Well here I am, another installment of my thoughts in this dark little corner of the blogosphere and are we hitting them out of the park or what? The ascending wedge noted 4 or 5 posts back, in the broader market, has finally seen its little blow-off move that I've been talking about and now we have a decisive break below that wedge's channel. Tomorrow (Wed) I expect to see a little recovery attempt, maybe just the morning, maybe the entire day, but it looks like a last chance to unload some longs and get the shorts out. I'm thinking we'll see a new low for the year before this is over.
Financials are back i the doghouse, the SKF position I bought last week is paying off and will continue to do so. Wed. it should give a little back and I'll be adding there.
Last week I hit the lotto! Yep, I bought some EMC May calls, I can't remember if they were $17.50 or something else, maybe $16? Any way, I bought 'em for $.02 and sold them Thursday for $.57! Now, if I only dumped $5k into them...
Well that's it for today, I'm not in the best mood right now and it probably shows. I'll catch up with you Wed. Gather up your ideas and look out below, the Bear is coming back around!
Wednesday, May 21, 2008
Coming Around...
Posted by Brandt at 12:13 AM
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