Wednesday, March 08, 2006

In Play

Long BRCM and QCOM

Update 10:04 - Profits booked on 50% of both positions.

Update 10:40 - Shorted FFIV at 64.57 (lower low on the 5 min. chart) and covered as it came into its trendline at 63.15

Keep an eye on PALM and QCOM as they are bullish in a weak market.

Update 10:47 - sold balance of BRCM position.

Update 11:35 - Got a piece of PALM. I've taken profits on all my positions because the market feels very weak. I will get back in at lower prices if a good setup presents itself, but for now I want to hold on to my profits.

So far the QQQQ's have held yesterday's low but I'm watching closely.
Update 11:45- QQQQ's have taken out yesterday's low.

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