I had to run out of here real fast at the close yesterday so didnt get time to post.. but turns out I lied and went against my original thinking and I couldnt resist taking a small short in RMBS near the close around $15.20.. Not a full sized position, but really just a quick scalp play into Monday hoping for a quick dip to 14.80/15.00.. Ill probably bail immediately if the market is exubberant at the open since this is sorta a coin flip play.. but the tape had an enormous amount of selling on any attempt to rally so I couldnt ignore that.. Hopefully it wasnt all short selling and I dont get caught in a monster squeeze on some news hehehe.. whats interesting is the big boys are VERY short RMBS however judging by yahoo thread the retail investors are very long the stock so Im favoring the short side on my trades with RMBS..
I never was big on Rambus.. but after spending alot of time reading this morning I now see why you folks like playing this monster.. Tons and tons of endless catalysts and rumors/speculation.. boy, what an exciting volatile liquid monster this one is..
I also caught your post on ZBRA so I joined you there on the long side for a few day swing.. also went short NBIX at 36.68, but I dont like how the BBH/BTK closed on Friday so I wont hold this past $38.. and Im long CYD hoping for a gap on speculation of restructuring/dividend this coming week..
What I find most amazing about this market is the last 5 or so trading days? the tape is so crystal clear on this thrust up.. Every dip gets bought, and even when things get 'red' there is very little fear and bids are always fighting to out do each other.. Im lousy at predicting tops and bottoms so Ill just keep playing it as best I can, but its going to be interesting to see if we get that pullback your thinking- or if this just feeds off itself and continues higher.. My problem is the risk reward favors shorting here with tight stops in hopes of at least a small local pullback.. but I think folks playing longer time frames (weeks) would have to favor the long side until some fear takes over.. I think the bears definately lost this round.. or is it a trap for the bulls after taking out the bears?
Incidently- Go see star wars... your probably not into these movies, but good lord- the absolute best acting I have seen in ages is the fella that plays the evil emperor Palpetine.. The epitomy of the dark side whos intentions are exposed in this movie.. This is one bad ass dude, and what a job acting.. He sold me hands down.. I think I like him over Yoda : )
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