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I took up a position in AMAT at 25 9/16 short 100 shares and I added 100
shares @ 27 to my short position in NWAC. For a total of 200 shares
short in NWAC and 100 in AMAT. I was up about $200 anyway from the first
NWAC position.
Why? Well the market has brought both stocks up and since the market was
up over 300 pts. this morning it has only one place to go for part of
the day. Down. If both go against me then I position trade them. Also
the strike at NWAC has canceled more flights.
All the other fundamental reasons still have not changed.
On a side note market breadth this morning was very impressive. Over 50
to 1 up to down volume on the NASDAQ and over 20 to 1 on the NYSE.
However declining issues on the NYSE are beginning to climb.
Just waiting for the DJIA to break below 200. Hopefully it will cause
more selling.
Harley
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