7/21/2005

A bearish day on heavy volume. I thought today was going to be like Wednesday, after Greenspan speak the market rally a bit but didn't have enough juice to go forward. Started out the morning watching rimm, it was definitely a fake out from yesterdays rally. RIMM continues to slowly slide back to the 70 and change. A bit disappointing because if it had closed above 71 , I would have been long. However, I watched vrsn got slaughter and bought at 24. This stock has too much great things to be down +15%. In the after hours, shorted affx at 47, jumped the gun a bit. But it will be down over 25% in the next few days, terrible earnings and guidance. Also, noticed two time in the history of this stock when things are bad, it usually drop between 25-30%. So, I'll be conservative and I'll cover at 43. Tomorrow will be heavy on earnings again and might be a down day with goog down being down.

Trades: long vrsn, short affx
Current unrealized g/l:
wtw -2.00/share
cbh +1.85/share
mstr -4.30/share
vrsn +.50/share
affx -1.00/share