Today was another great volatility day. The set-up was great to short internet stocks since other than YHOO both AMZN and EBAY looked weak pre-open. THe positive inflation data put some further distance onto EBAY and it was a good probability to fall after the open which it did. I had a couple of short trades on EBAY in the morning. I did not anticipate the market would weaken this badly even though IBM and other earnings were weak. After-Market was volatile also with EBAY and QCOM tanking, I shorted INTC and bought 2000 shares of YHOO at 35.00. All in all a very good day.
YHOO gapped down to 35.00 after EBAY released its earnings. Unfortunately I sold it at 35.15. It is now trading at 35.80. I can trade the ECN's until 5:00 pacific. I sold too early again.
watching the big gap downs in the am for possible fades ... GOOG and OSTK are the most favorable ... cheers
Why did you sell at 35.15. You were up .15c. Could have had it to sell at 35.00 and your finger on the trigger, if it threatened to slip below 35.00. Did you chicken out? I have done that a couple of times.