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I picked up 100 shares of ONSL short today @ 18
3/8. It had not gone anywhere all day until the
end when it went up. So I will wait and see.
Hadn't really looked at the charts just jumped in.
Closed at 18 5/8. Have no idea where it is headed.
So I will wait and see.
AMAT - at the open I was concerned about covering
my short in AMAT. But saw it wasn't going to high
so left it. The big help was the low up/down
volume ratio for the day on the NYSE and NASDAQ
and the drop in the 30 year treasury note. So I
knew things were not going to get out of hand. I
almost added to the position on two occasion but
waited or missed out. Closed at 24 1/8. Up about
$140. If I get a good sell off in the morning
(Thursday) I'll book my profits and take up
another position on the bounce up.
NWAC - almost added another 100 shares at 28 but
felt the volatility on my account would be too
much if it moved against me for a day or two.
Closed at 26 1/2. Up about $250. Hopefully I can
see NWAC moving into the 24s by Friday. If so I
will book some profits on NWAC.
*** One big reason for not adding more is that I
have a small account and the volatility of 300 to
400 shares can swing my little account around to
much. And if it goes against me for a few points
before it moves in my direction it can be a pain
in the but. If this was summer time and I had
expectations of making some good extra money from
working, I would just add to the account. Now that
summer is gone I can't take that strategy.
I am looking for the market to head south for the
most part this week.
I think now that earnings warning season is upon
us we will see that the market will be kept in
check.
Harley
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