Wednesday, February 6, 2008

Trading for 2/07/08

Here we go, the next leg down. From here we should test the January lows, if not move lower.

I entered TWM prematurely this morning. It is my favorite short inverse ETF, and I believe it will go higher.

BIDU broke its 200 EMA and broke a bear flag like pattern. This spells doom for BIDU. I may short this if I can get a good price.

Believe it or not, I found a couple of stocks that look good on the long side. I am sure these will be taken down soon, but if they show some strength, I may try for $1 or $2.




I will try these only if they breakout on heavy volume, and if the market is moving with them.

I will be keeping stops tight and taking profits early.

Good trading.

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