Thursday, September 11, 2008

Mini Capitulation This Morning: Felt Like It Anyway

Covered my shorts this morning and back to cash and i believe we could head higher in the days to come.

8 comments:

Anonymous said...

Hi Stewie, I'd like to ask you something over email if possible. Thanks!

Stewie said...

traderstewie@yahoo.com

Dinosaur Trader said...

Stewie,

I don't think the VIX was high enough or that volume spiked enough for today to be a meaningful bottom.

That's just one Dinosaur's opinion.

-DT

Blue said...

I got nailed by the PPT today. Laughable really. +$1700 in SKF last Thurs. -$1800 in SKF today. Thanks PPT!

Stewie said...

DT. i do not think this is a bottom by any means. just perhaps the start for a few days of upside or at least choppy conditions. I will not be happy with a 'bottom' until i see VIX over 50.

Stewie said...

blue: you'll get em back soon ;-)

Blue said...

Stewie,

I think WNR, HOC, and TSO are going to be the big play on Monday as initiated Friday. We're def. going to get a gap up. I think this is how to make some serious coin next week if a trend gets established and you don't get caught buying the top of a rip and panick out on the dip. TSO and WNR are sub $20 stocks. It would be easy to take 5,000-10,000 shares, but would suck to get it wrong. Let me know...

Stewie said...

blue: they sure look great. wouldn't chase a gap up with any size. but i would be interested if they pullback or open down.

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