TSTC Rev Shark just came out long TSTC ....
Hand
By Rev Shark
RealMoney.com Contributor
10/4/2010 10:13 AM EDT
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As I discussed in my opening post, the bulls and the bears are slugging it out, and neither side has been able to grab a decisive edge. Traders are waiting for one side or the other to clearly seize control before they jump in and try to catch some momentum.
That leaves little choice but to play small and quick while we wait for things to develop. The action feels a bit nervous to me this morning, and I'm adding some ProShares UltraShort S&P 500 (SDS - commentary - Trade Now) as a hedge. I don't like the lack of any sector leadership and the poor breadth.
However, I do see some chart setups I like, such as Telestone Technologies (TSTC - commentary - Trade Now), Gladstone Investment (GAIN - commentary - Trade Now) and Fabrinet (FN - commentary - Trade Now), but I'm not being aggressive at all, especially as we are now challenging the opening lows.
The bears have an opportunity here if they can keep the pressure on, and I want to see what they can do before doing much on the long side.
Long SDS, TSTC and GAIN but positions will change at any time.
AI
