Thursday, June 5, 2008

good day, big tomorrow

i woke up and saw that NUE was up $3 on some good news. Kaching !!! I watched MER at the open and it seemed anemic so I got rid of it also. Financials like GS and LEH were flying but MER was sagging. something's going on.

btw, NUE went up $6 for the day. Heavy institutional buying, which anybody with a brain could see coming a mile away. The thinking on my sell early was, look $3 move is average, i have rarely seen $4 moves, so upside seemed limited, while the downside gapped large. a bird in hand, is better than 2 in the bush. Eh!

Rest of the day I shorted some stocks. I am worried about my NUE short and also, my first MON short, which was initiated at a horrible juncture. Sigh!

I am going to NYC tonight, so tomorrow I trade from Manhattan, Upper East Side BABY ;)

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