5/23/2006

It started out great, but ended weak and I just don't like how the last 30 minute just pulled all the index into the red. I kind of expected a pullback after the morning run up because there weren't any data or news to support the runup. However, tomorrow should be a better day to watch and see has the market reached bottom yet. Today, I've sold tso after their upgrade for a +2.80/share and bought more of adsk to average down to 37.33. I'll continue to unload my longs when the market bounces and rally here and there. Overall, I'm starting to sense this market will not move and test higher high yet, but will bounce a bit so everyone can get out for a small gain. My strategy from now to the mid summer is to sell on the rally and average down on my loses so I can get out .

Longs Cost Unrealized g/l:

ebay 31.30 -1.30
expe 14.99 -1.75
mrvl 50.7 +1.3
rimm 69.90 -4.25
vlo 60.25 -0.60
sun 68.90 -2
adsk 37.33 -1.25
joyg 50.60 +3