8/22/2005

This market is starting to level off and is waiting for a catalyst to move it further. Just watching it today even though the oil is above 65, this market is all out of sellers. However, the buyers are no where to be found either. So with this thought, I covered all my shorts: amzn for a +1/share and took a huge loss on mstr at -12.55/share. With the mstr monkey off my back I can concentrate on going forward. Today's action on rimm was unwarranted, thought the huge run up was associated with the ntp settlement, but it was with a deal with intc. Will watch the open for weakness and as a short position. Also, will watch shoe carnival since tomorrow they announce earning. I think it will be ok and it should pop for a dollar. Besides these two stocks, will watch the oil refineries (vlo and tso) and homebuilders (kbh, phm) for entry.


Current unrealized g/l:
sbux -1.35/share
cbh +2.90/share
vrsn -.85/share