I was expecting a dull sideways day, so I ran some errands in the morning instead of trading. Then I get back home and fire up my trading platform. Ouch! This type of market was made for me. I don’t know what it is–maybe the fact that less people do it–but I prefer short plays to long ones. If you’ve been reading for a while, you may have noticed that the majority of my trades are short.
Anyway, even though I missed a lot of action, I did see one trade I couldn’t resist, and that was Marvell Technology Group (Nasdaq: MRVL). What a gorgeous drop that was, on their acquisition of an Intel Corp (Nasdaq: INTC) business. I picked up a little over 50 cents on an afternoon trade there. Sadly, INTC was also down today. Oh well, that’s capitalism for ya.
I never know what to expect at the close of these big down days, so I’m not trading the final hour. It’ll probably be a bit choppy! Be careful out there.
| Stocks Mentioned In This Article | |
|---|---|
| Stock | Links |
| MRVL |  |  |  |
| INTC | | | |
