Metals

The steel makers are recieving a lot of upgrades this am.

Review

INTC, came back strong in the later stages of todays trading.
SIRF, held it's own
DIVX, pulled back and took a third of my shares, will continue to hold a decent sized position, also i will add at lower levels.
ACI, i started a position, this is a slow mover that immediatly pulled back, i will unload this one if it doesn't start moving up soooooooon.
ATI, added a bit more on the short side @107.96, very very risky



overall the account stood up fairly well, i will not allow a huge drawdown in my account though.

BSC

BSC seems to be holding it's strength the overall market seems to be weakening

Lost access

Lost my internet access from about 20 minutes into the trading day to 5 minutes ago, NOT GOOD!

Select strength

Let's see which stocks keep running and which ones don't.

Holdings summary

INTC a bit concerning however i'm not about to give up on it yet.
SIRF made a solid reversal off it's short term support level @26.43, today's action post bounce is a bit more constructive than the prior 2 days.
DIVX the volume is lightening up a bit, with a strong green day in the overall market i believe this will get up and run, without overall market strength DIVX may just drift around, no DIVX does not track the market.


Re-entered ATI on the short side @106.26


I left about 2 hours early today, therefore my read on tommorows action may be incomplete.

Tommorow looks like more of what we saw today.

ATI

covered my ATI short a bit too soon it seems 105.10

BZH

out of beazer @28.60

Beazer

Started a small position in BZH @26.10 in afterhours, anyways this should be interesting tommorow morning, yes it feels a bit like gambling which is something i really try to avoid so there is no explaining this purchase except to say " watch all the short sellers cover in the am"

Beazer Homes

Yes, let me watch BZH tommorow for a quick trade, it's @ 26.03 right now in AH's. FBI probe of mortgage practices at BZH.

Added yet some more DIVX @20.53 ,


Still holding INTC, DIVX, SIRF.
Short ATI @107.07, this is still one of the most bullish stocks in the market, very very risky to short here it's a small position and i will add to it if it retests it breakout level and fails.

SIRF started to look strong early on in the trading day but ran into resistance and sold off.

Dip buyers

The dip buyers aren't moving many stocks today, i will start to look for more potential short entries, however i will scale in slowly. No clear direction for this market most likely we will see some minor swings back and forth.

ATI

Just shorted some ATI , I consider this a very risky trade.

Nice reversal in the indices

Wow what a climb back from the lows of this morning, NYX was about the strongest stock that i was watching today. I do not trust this move to continue too much higher, some nervous bears covering most likely helped today.

Added more DIVX @ 20.54, will set a stop prior to market opening tommorow.

Still holding SIRF and INTC.

Friday morning

Was stopped out of NYX @88.12
Sold my BP @ 63.64

Thoughts

Let me expand on what I see in the IYR it looks as though resistance is at the 89.00 level if it makes it through that it will violate the short setup for now.

SIRF well if it sticks this level too long the gravity may take it down.

INTC this is a slow mover and without some catalyst it may trend down 75 cents.

DIVX looks as though the character of this stock may be changing, it's very loaded up with bears and I don't expect an easy resolution to it.

Just watching

There were some nice moves in JOYG and VMC today.
I've got my eye on the IYR for a move, maybe to the downside.


I waited until the close to start a position in NYX @ 87.10.

Positive reaction to the fed

Well still holding the same as i was the past week.


Did add to my long term portfolio which i don't referance to on this blog usually. added DIVX to my exsisting shares @ 18.69.

I'm going to look towards stocks like VIP, NYX, VMC, VSEA ,WFR over the next week.

Market day

Well I'm leaving early today I might put in 3 hours, I'm anticipating that not a whole lot will happen today in front of the fed, so it's wait and see time.

NVEC popped on some patent news, LEND is up on some buyout news in the subprime sector.

Market

There isn't much happening under the tracking indexes, Looks like a bit of short covering.


Well i may have jumped early today on SIRF, in with a starting position @28.25