Tuesday, February 05, 2008

No service, no rally?

I knew this is going to be a sucker's rally, but did not realize it could fizzle so thoroughly before I could get my hands on those retailers on my list. While it seems bulls are stepping into the economic mine field, I am yet to be convinced that they are done by now. Sorry about about the GS call, which was destroyed by an analyst from Oppenheimer. On the other hand, my calls on FSLR, BIDU, SFP are so far so good. Please be careful on the long side!

11 comments:

razor said...

Managed to get 7 points on fslr, still holding short lvs@92, dumped rtn for small loss...check the aapl chart, such a compressed bounce and pulled a 180, also intc 50dma just crossed the 200, how low will they go? only csco knows...

flyingwabbit said...

Razor:
Nice trade on FSLR! As for AAPL, I actually feel like go long if it successfully tests the low again tomorrow. Oh, got a small long position in ILMN today, we will see how tight I can hold on to it. Also eying on YGE if it spikes towards 21 tomorrow, but the solar sector has been really iffy lately...

razor said...

the solars piss me off, great trading stocks, but they all have lower gaps to be filled, only fslr filled...all grossly overpriced, but alas the market will set the price...
as far as aapl, unlike last year, i feel no reason to buy it, exept for the memory of it being a 900 pound gorilla money maker...but now there is no hype, no sizzle, just an oversold giant.

razor said...

down 370 and this morning up 100 but none of the stocks on my list reflect this...feels like a total lack of buying pressure, aapl 127.7 and not bouncing, will "they" bring er up or is it down another hundo? another exciting day as the market turns...

flyingwabbit said...

hmm, weird, just realized that my morning comments was not posted here. Anyway, I took a few small short positions earlier in the morning: AAPL: shorted at 128.8, IT=115
ISRG: shorted at 299.6, IT=291
BIDU: shorted at near 247 after its initial rebound, IT=221.
Also, ILMN: long near 70, look at add more near 65/66.
CSCO threw another bomb in AH, now the major indices (especially nasdaq) are ready to test low, and I am ready to ocver all those short positions and reverse to the long side tomorrow.

mhp1222 said...

hey ...i was wondering if you guys know a way to short consumer credit....like car loans, boats...bug ticket purchases that people over extended themselves with. i havent heard too much about this....and it will be big. i know to short COF and AXP...but there has to be something more....thanks

Yuriy said...

Hey flyingwabbit,
did you cover aapl already?

flyingwabbit said...

Yuriy:

covered during the opening gap-down for all positions, but did not reverse to long for any names. I am now eying on AAPL, BIDU, RIMM, CMG, and all those retailers for swing short setups.
however, looks like the market, or more specifically, NASDAQ is surviving the test and I still expect a rally here before further weakness into spring/summer.

Yuriy said...

I see, thanks for the info. Let us know if you take on a position.
Thanks

razor said...

L aapl 119
L altr 16.5
bought more etfc 4.3
Ok so we're down 560 for the week, I guess its not much of a call but we rally at least 250 pts of a 560pt gap down, also friday is options exp, so i figure they have to destroy the puts.
aapl- i'm not sure if i was halucinating but i thought i read an article that said aapl would press release the new g3 phone end of feb 10 times as fast etc...hoping to close the gap at 145...
Its hard to believe mo is not soaring, this market has got to be making more future alchoholics than ever...have a great weekend yall...

flyingwabbit said...

razor:
very sharp trades. I am curious about your AAPL SW trade, because of its technical breaking down, I figured the long side SW with good r/r is when it is clear 110/115, did you get it in because if it was close enough? What is your initial target? Believe it or not, I actually got in long at 18.02 in Wed AH when CSCO ER came out, but booked a quick profit moments later, once again, SW triumphs over DT!
AAPL closes the gap? I start to doubt if it will happen in next few months the way it goes now.
enjoy your weekend!