Wednesday, April 20, 2011

Some shorting oppurtunities and many stocks at their very highs

Shorted URI and NOG. have to wait a week to see what happens. They are in the down ward direction.
Market did well today.

URI formed the head and shoulder formation and the historical data shows that this stock has fallen several times before after reaching 30 range.

Many stocks are on the top levels. There are many with good fundamentals like fossil, netflix etc. But there are also stocks hitting tops and coming back. Like Riverbed, NOG , URI and Jupiter networks. These are in Phase 4.

One has to buy stocks that have very strong fundamentals at the top otherwise it may start coming down. Fossil and SHS were good buys that i messed up.

Any way just have to wait. Nothing to worry. Put the buy to cover, sell stop order and just wait for the stock to fall. 

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