Paul J Singh

So Far, So Good

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Paul J Singh

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While today’s action has made me take a step back and slow down on my “short tech and semi’s thesis”, I still think it’s valid. While there were gains today, the volume just wasn’t there for a lot of the stocks that I follow. For example, let’s take a look at semi stock BRCM (Broadcom Corp). While the stock did make a nice gain today, it was on weak volume and the move did not pierce any resistance points. Right now, it looks to be setting up as textbook short off a reaction to a downtrend. If the stock does not break the 200 day MA tomorrow, I will likely short the stock.

So far, so good this week. Let’s not overreact to one trading day. Nothing has changed to disqualify my view, and I am still very bullish energy, gold and metals, and bearish tech and semis.

I’ve made a number of trades over the few days and will detail them tomorrow, including STLD (profit), AKAM (loss), GROW (profit), GG (holding), BOOM (profit), LEH (loss), and TIE (profit).

2 responses to “So Far, So Good”

  1. walter Avatar
    walter

    in the case of BRCM for example, i forget, but do you monitor the market thru the day or do you set price trade triggers the night before? so under whichever situation you trade, what do you look for to actually execute the trade? an approach and fail of the MA200? thanks

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  2. Anonymous Avatar
    Anonymous

    Shorting semis has been tough. I shorted TXN Monday morning and am at a slights loss. Like BRCM is has bounced off resistance. SMH (which I wanted to short, but could do to restrictions) has bounce off $35 several times. Resistance is clear, just sell if these semis break through. Big Bill

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