Stow , I saw the same post last night . I went short on CCmp b/c I have followed it for a long time and believe if any stock gets hammered , it will be this one . Do I feel good about it ? No , but my thought... a hedge against Jcom which has been real strong lately .Have you seen the action lately and are you playing it (Jcom) ?
Shhhhhh!!! You're not suppose to ask. He's doing it as a hedge, and because of his changed trading style. Since he doesn't have the time to full time daytrade, he can't play the down channels from the long side, so instead of going to 100% cash is hedging. You can't play a down channel with a swing trade from the long side, but can daytrade one playing the long side. That will be one free ride on your boat. Could you be it around to the eastside. Oh don't worry about that little wind to the south of me. ;-)
Actually, on rare occasion I will go short an ETF, typically the QQQ to hedge left over long positions. I don't post these, but mentioned it few times. many PM's have asked me to post when I actually start laying that hedge, so I will try and do it this time. There is a big difference between shorting a specific stock and an ETF, a stock has its own mind, an ETF will follow the general direction of the market.
Stow, it's just like Tom Brady telling John Madden that Sirius is his new favorite receiver- Zeev wants to buy some new 'shorts' for the fall, umm, I mean autumn...
CIBC World Markets Corp. (BRCM) Reit Sector Outperformer Broadcom preannounced Sunday that it is lowering its guidance for 3Q04. We were surprised by the strength in BRCM shares following the update. We are hopeful that investor sentiment may have improved now that expectations have been lowered. We are revising our price target to $38 from $47 to reflect lower relative valuations in the market....
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