6/23/2005

Just sold off on practically no news. No it is not the oil monster touching 60 or the Greenspan/Snow talking about China with the Senate, it was just plain over reaction selling. Today, cover rimm for a measly +.15/share the market pushed this baby all the way down for me to get out. I'll see how this stock play tomorrow before initiate a long for the earning numbers. The momentum is positive, even today it only went down exactly when the market started to tank. It also dropped below 78 at the last 5 minute, which tells me it still has a lot of strength on the up side. Went long on ovti at 14.80, earnings and guidance I thought was ok, it is down in ah, just don't think it will touch below 13. Also, watched the oil refiner vlo and tso got hammer on high oil price, I just don't get it, maybe it is a sell program to release when it oil hit 60.


Trades: cover rimm, long ovti
Watch: positions
Current unrealized g/l:
sgtl -4.90/share
wtw -2/share
ovti -0.50/share