Thursday, March 29, 2007

Semis Drag The Nasdaq Lower



Today the NASDAQ was the weak index while the dow showed some strength. At one point today the semis were really gaining some momentum to the downside and I even shorted a few things such as the Q's and some tech. If I showed a profit by the end of the day I planned on holding this short trade for a few days but the market managed to rally after 2:00 and my profitable positions turned into small losses so I exited my shorts. I'll probably look for signs of weakness tomorrow in the semis as possible shorts if things line up.

Notice ever since Fed day the NASDAQ has been making lower highs and lower lows. Does this mean I am bearish on the market? I'm leaning that way but keep in mind I've also been buying stocks and doing very well. It seems as though right now this is a market of stocks and not a stock market. You can make money on both sides of the market. I've been buying the strong stocks and now I'm looking to short the weak stocks such as semis, homebuilders, banks, brokers, airlines...etc

No comments:

DISCLAIMER

This site may include market analysis. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Trading and investing involves high levels of risk. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.
 
Google
Technorati Profile Finance Blogs - Blog Top Sites