This was the short-term reversal I mentioned a couple of days ago that would happen soon, however there is no reason for this rally to hold through the close today. I expect a sell off at some point this afternoon. Yeah, CSCO is rocking and they "predict" spending will increase ftom their customer base BUT those companies haven't confirmed anything. The fact is we are still in a funk and port. manager's concerns are still the same and valid in terms of the WCOMs and SUNWs that are still out there that haven't tipped their hand. I'm attempting to play intraday shorts but I have no idea where todays top will be either so I'm gambling to a point. My indicators are being overworked and signaling to many buy/sells so I'm going to hold tight and look to possible take additional shorts overnight in anticipation of profit taking tomorrow and a dose of reality.
Nebeno- Can you please rename your Thread, it's confusing me as well when I'm posting my trades quickly. Thank you.
Seanote, You have big ones to step in front of this rally. How much room are you giving those shorts?
Interesting take and with the Middle East as an additional variable you would think there would be less enthusiasm. Do you ever examine the open put/call interest in a stock for possible sell points?
I'm giving my self a $1-1.25 cushion. I'm watching my charts very closely.... KLAC and QLGC will retrace, it's just a matter of how long do I want to hold????