7/14/2005

Another slightly bullish day on heavy volume. Maybe the bulls are starting to slow down since almost all the stocks are at all time high. Today, I panic when the tame cpi numbers came out and the builders were running. I quickly dumped all my builders for a -2/share for kbh and -1/share for tol. If I was more patient and not let the market spooked me out, all of todays losses were have been GAINS. Ironically, I was discipline enough to exit when it hit my target exit prices. So I'm a bit frustrated at my exit system. However, made money on cbh, was watching it in the morning and listen to the conference call; bought it, it is up +1.10/share so far. Also, shorted mstr at 62.96, very heavily manipulated because it ran up 2 points in about 30 minutes near the end of the day. The news was ok, not spectacular,I'm thinking it must be option expiration that is moving this stock. Will definitely short more tomorrow if it moves above 66. Will watch rimm to see if it test the 74.50 level which I will short, there is too much competition for this stock to be in the mid 70's, upper 60's is more like it. And finally, will watch rf for their earnings and conference call, if I see huge buyers like cbh I'll definitely buy.

Trades: cover tol, jbh, short mstr, long cbh
Current unrealized g/l:
wtw -1.78/share
cbh +1.20/share
mstr -1.60/share