Wednesday, October 26, 2011

Still here

Still, busy with coaching/recruiting/looking at moving logistics.  Mostly sitting on the sidelines waiting for earnings season to blow through without getting hammered.

NFLX.  Crazy.  That's why you don't make major changes.  Again, I know it was unsustainable, but adding $1-2/month now would have kept most of the subscribers, and they could have slowly bled the price up and they wouldn't be in the mess they are now.

Opened a small short position in MGM yesterday at 10.70 right at the close.  This is the high end of it's short term range and in a longer term down trend.  Should be easy to get out in the 10-10.20 range, and lower if this market turns around.  LVS reports earnings on tomorrow that could make some noise, and MGM reports next week.

Amazon is down sharply today after earnings.  I think this is an interesting case:  The stock is getting hammered, but most of the news out there are defending the company and it's long term outlook because of costs it's incurring now.  Is this a smart time to pick up shares, or stay away because all the analysts are trying to keep it propped up to sell out?

So, like most traders, I'm just waiting for the "EU to be saved" announcedment and subsequent move.  Out of boredom I've played with FSLR today making some pocket change on a couple day trades.  Might have to enter another short here at 47.30...

1 comment:

  1. Glad to see you're back chief! Began to wonder what was going on. Taking physical inventories at work and little time to watch right now. TZA tantalizingly low but will market take it down more for me? All this fake money printing, after EU prints 2tril more fake and we will have to keep up and print another tril...math still doesn't work. Market has to come down.