Wow! What a day that was.
The lows, the highs…
A few disappointments but nothing I wanted to dump based on a day’s trading. I did exit my long on Genzyme as it was the exact opposite of the umbrellas I mentioned earlier.
Bottom fishing winners: CVC (1%), AGEN (6%), FMTI (1.6%), JAS (1%), FRN (.6%), SGY (1.4%), the only loser was CMRT but one day someone will realize they sell Toyotas too!
Overstock was a disaster! But at least it opened that far down. The December $40s have too much premium ($2.60) for my taste so I never entered.
MRB had an exciting morning but ended flat – I still like this one.
NGS opened way up and stayed there. Chart looks good, not great. A lot will ride on tomorrow’s oil report, not sure what happens to Thursday’s gas report with holiday.
Like I said, all you needed was a monkey and a dartboard to make money on oil today.
MUR really got going with XTO, HAWK, DO and HAL all picking up 4%. BTU also made a good move and the best thing was they had a slow start so we all had plenty of time to buy!
SBUX was rejected at the high so no buy. Long way to go on a pullback.
WFMI might be out of gas.
RIMM has a bit of a GM feel to it. Everyone is scrambling to assure the investors but she’s taking on a lot of water. I pulled the stop so I’m holding on to it with a painful loss. Had I listened to my 10 oclock self I could have saved myself .80 on the option.
Always remember Rule #2: Do as I say, not as I do! One day I will listen to myself.
Even if RIMM settles, the deal looks like it will cost them 2 year’s profits. That’s not good!
