10/17/2007

Well the bulls certainly showed up afer Intl and Yhoo's spectacular earnings, and then during midday it gave it all up because of the Fed's Beige book's doom and gloom economy report. But at the end it rally again to finished strong. Good day but made one terrible simple mistake. The goods are: covered slb after the oil inventory number for +1.85/share; covered the rest of my isrg for +8/share, the market gods brought it down before earnings I'm guessing to get in cheap for tomorrows earnings. So since they brought it down near my target price covered I did. Now the bad, I gambled and shorted ebay going into the final moments of earnings. Usually I do not gamble like this, but this time my reasoning was since it has a nice run up all month, even if it blows through earnings the sellers will sell on the news. Well they did blow through earnings and moved higher in after hour and then it retraced it all back. But, by then I covered for a -2/share loss. Lesson learned is I will never play the earnings number again, only play after earnings are announced . Tomorrow I'll watch isrg and goog for either long/short , it all depends how they announce.


Current positions/cost
Long vmw 84.50
vsea 48.6
short