This week has shown no clear direction and no real reason to take any positions long or short. I did sell my FAS position today for a loss, and i'm not real happy about that trade overall. I rushed into it with the expectation that the market would rally the rest of the day, but the market crumbled and instead of getting out, I held through the close. On top of that, although tomorrow could go either direction depending on the Euro news of the day, I should have held since end of quarter window dressing for fund managers should keep stocks up through tomorrow. I'm not so pissed about the loss of cash, but the timing was not the best.
Looking for buys, I'm intrigued with WYNN and LVS. Even with the issues in Japan, just like the EU, these stocks are going to bounce one day to the next depending on the news out that day. WYNN might be a stock I pick up if I have a few minutes in the morning and it drops a bit more. Also, seeing NKE down another buck or two would be nice, but the tides seem to be changing with AAPL and the other strong players in this market slipping over the last few days.
Tomorrow will be a no-trade day for me. Team leaving tomorrow morning for a meet on Saturday, so I should see the open, but that's about it.
One final note...don't always believe those charts...even a bullish reversal in FSLR a few days ago couldn't save the stock from a huge drop in the ensuing days.
If I don't post before the weekend, big sports weekend. I can't remember the time when all my favorite sports teams were so phenomenal...all at once! But the two biggies...UW vs. Nebraska & Brew Crew vs. Arizona. Combine that with our races...come Sunday night I'm going to be exhausted.
Go Badgers & Brewers! (and Packers & Bills!)
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