10/30/2007

Well everyone is waiting for the Fed and it was another volatile whipsaw day. Started with a down day then some upward movement, then side way, and finally down in the last 30 minutes. Today was just terrible, shorted goog too early at 90 and covered a quarter of my position for -5/share. GOOG is just one amazing upward momentum stock, just didn't wait for the retracement or signs of retracement before I entered the short. I tend to always jump in too early and it is very frustrating. Also sold partial position on slb for -5.42/share, broke below the 97 level which was one of my stops. If it closes below 96 tomorrow I'll close out the remaining position. Basically I'm just taking the lost and building up cash for either a huge shift up or a tremendous down wind. It will all depends on the 1315 hour tomorrow.


Long
vmw 84.50
slb 101.42
Short
goog 90