Apple down, can’t get any sustained momentum to the upside. With today’s sell off, I’m worried that we’re going to get another whoosh down to shake out the weakhanded bulls into/around/through the event launching whatever new products are coming next week. Not changing any stance or anything and it remains my largest position, but I’ll likely let some space work to the downside in here before adding to it again.
LNN has bounced right to a new all-time high after yesterday’s sell off. Nice upside action there and the technical analysts will be looking for a break out if it can close above $75.
Our AONE Bankrutpcy trade is up and hopefully I didn’t just jinx it by writing that. I’m going to let this thing play out as I’ve said from the beginning — will look to trim maybe near 9 or 10 cents a share and will leave the trade entirely in the next couple weeks no matter where the stock goes by then.
Deep Trader’s Thought of The Day – Ever think about how your portfolio should be arranged like a good rock n roll band, with a couple guitars providing rhythm, a voice providing a melody, some bass and drums to provide a foundation, and when it all comes to together it makes a great jam.
Here’s a song that starts by layering all these sounds on top of each other then mellows out into a great rock n roll jam. Like your portfolio should. That’s party of why I have an occasional short-term bankruptcy trade or earnings gamble — you need to blend strategies like a rock band blends sounds.
Mott The Hoople – One Of The Boys