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After the market moved up this morning AMAT also moved up. But it didn't
move beyond my other two positions significantly. So I didn't add to my
short position. Last night I had briefly glanced at ONSL and saw that it
was up this morning. (I don't like to short a stok when it is down for
the day.) At the same time the DJIA and NASDAQ were selling off. Market
breadth was also declining. So I shorted ONSL 100 shares @ 27 3/8.
Currently it is around 26 1/2. I am looking to cover ONSL some where in
the 15s today.
Although the market is going to bounce around I can see that the yield
on the 30 year treasury note has moved from 5.307 to 5.27. Which means
that the 30 year is being bought up. And as of late when the yield on
the 30 year moves down do to buying. The market also moves lower. That
is what I am expecting today. My guess is that we may even break 100
points on the downside in the DJIA before the day is over.
NWAC is still drifting lower. Finally broke into the 26s.
Harley
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