Wednesday, November 29, 2006

Stickin' to my Guns, or Shorts..

Look, I'm not a bear here, nor am I implying that the whole market is still going to sell off, I am sticking to my shorts that I've put in based on technical indicators. They both struck me as nice short positions with a fairly decent risk to reward ratio. The market was weak early in the day but did manage to eek out into the green. I can't believe how strong Apple Computer is holding. The stock seems to be ironclad and barely got it's feet wet when the NASDAQ sold off over 50+ points on Monday, November 27, 2006.

I'll be keeping an eye out on market sentiment, because the direction going into December is anyone's guess. Will the foreshadowed "Santa Clause" rally come out of the sleigh?

High five to Will over at DummySpots for posting a great article on how tech stocks, also the QQQQ, are tied to the high fliers such as Cisco (CSCO) and how it tends to be a market leader. Nice work, I enjoyed the article.

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