Looks like another one of those days I don’t like, so far. I took a small position in Airtran Holdings Inc (NYSE: AAI). Here’s the daily chart, showing where I wanted to go short. But, I got out of it because it reversed and decided it would rather go up. rrrrgh..
I also took a small loss on Akamai (Nasdaq: AKAM), which rushed up along with everything else around 10ish. So, with those two stocks clearly not acting like I wanted them to, I passed on Arena Pharmaceuticals Inc (Nasdaq: ARNA) when it broke 14. Which was a good idea, because it reversed from 13.99 and is only just now as I write this drifting back down.
I also passed on GRP at a minor (fuzzy on daily charts) buy point of 42.00. I was happy with my decision when it reversed, but then around 41.78 it turned back around and never looked back. My target would have been 42.60, which was a clearer buy point on the chart. When it got to 42.60, I couldn’t see buying because of how much a move it had just made, and because the dow and naz were dropping by then (again). Time will tell if that was the right choice. Here’s the 5 min chart so far:
So, not a lot of profit this morning. By which I mean, no profit. Or, more precisely, losses. :-) I wouldn’t say I’ve done well this week so far. But, there will be plenty more opportunities I’m sure. Due to my incredibly elastic (by which I mean, wacky) sleep schedule, it’s almost time for me to go to sleep, even though I’m in the USA. Maybe I will dream of profits instead.
| Stocks Mentioned In This Article | |
|---|---|
| Stock | Links |
| AAI |  |  |  |
| AKAM | | | |
| ARNA | | | |
November 28th, 2006 at 10:59 am
[...] Down. No, up. No, down. [...]
November 28th, 2006 at 11:14 am
Hi Richard,
You’re not on that polyphasic sleep schedule, are you ?
November 28th, 2006 at 11:17 am
@phileo: I tried it for 2 weeks last year, and it didn’t work for me very well.
It seems like I’m on a 26 hour day/night cycle, so I keep staying up later, and sleeping later. I can force myself to wake up with an alarm, but it doesn’t seem to get me to go to sleep any earlier. I’m stubborn, I guess.