Trimming on the Bounce
January 24th, 2006 by BWV
This bounce from Friday’s drubbing is now in it’s 2nd day. I’ve trimmed a few positions and added some shorts into the rebound as I plan for the likelihood of renewed selling pressure very soon.
Tenaris (TS) is one that I dumped in the last 2 days. Avg sell price $154. That Doji candlestick yesterday is a bit ominous, but this one is so strong that I’ll try to reload if it sets up again — hopefully down in the $130’s.
Other trades include adding a bunch of Matrix (MTRX), shorting Quest (DGX) & the bank index (RKH), selling my SPIL & CMCO, and taking a loss trying to short Google (GOOG).
Long MTRX
Short DGX, RKH
