I stated that I would hold these 3 longer term that previous plays. I'm waiting for the market to break on AOL & TYC. NVDA is a long-term play and IMO will be a $20 stock in 6 months. Granted, I would have dumped it if I was up $2 but I have the luxury of moving that position to my long term holds instead of swing trading. I've always liked that company and now that it's at it's lows I think it will rebound nicely when that day comes. Regarding my open P&L vs. usual monthly returns, I have had a tremendous month of July (especially the last 2-3 weeks) as I have decided to increase my share size for the longer term plays. As I mentioned some posts ago that I am now trading almost 50 roundtrips a day with a few swing trades since the market conditions are optimal for that type of strategy right now. I don't look at my monthly returns vs. current open P&L. I have more than enough equity in my account to whether this type of set back. I try to keep my equity in a particular range and withdraw additional monies that I allocate to my other businesses so I never risk loosing all of my assets.
Seanote Will you be posting any commentary or trading in the month to come?? Miss your comments and watching you trade.
Good example of taking 20% + profit on that TYC personality in a daytrade. Tends to help to buy as close to support as you did with TYC. ___________________ ''Enjoy your read''-Alan Greenburg-Bear Stearns
This morning is a major reversal day - gap up with minor pullback and then power up is a typical pattern. Short should be caution. Shot will be squeezed until after lunch hour at the earliest. IMO.
Still short 5000 QLGC @ 36.22 If QLGC breaks an agressive support at 32.70, there's much more downside.
Intraday support range is 32.65 - 32.70 area for nice scalping but use tight stops if support is broken.