Technology Rebound?
Things are looking a little better in tech land thanks to today’s strong move in the SOX. It’s still hasn’t broken its more than 2 month old downtrend line though. So I’d look for some follow through before getting to excited about the semis.
That lift in the SOX has the NASDAQ looking like it wants to hit 1900. It’s also important to note that the Naz closed above its 50-day moving average for the first time since early July.
The One that Got Away
I’ve been watching TZOO for several months now and I’m kicking myself for never buying it. It actually made my watchlists a couple of times. The first was on July 16, which would have resulted in a 144% gain, although I probably would have stopped out about a week later. The second time was August 30, which would have resulted in a 40% gain. (I take that back, it was on the list for a potential day trade that day.. but I still should have caught those July entries.) Next to getting out of winners too soon, never getting in winners has to be my most costly mistake. I’ve really got to work on catching and holding these type of movers.
This post has 2 comments
September 9th, 2004
So why did you ignore those potential entry points?
September 10th, 2004
The biggest reason was because the NASDAQ was in the midst of getting crushed. IT got hit really hard on July 16th. (Note that I corrected the comment about the August entry.) The volatility of TZOO has always bothered me too though. And like I said, I would have been shaken out even if I tried it that first time. And even though I didn’t even have the July 22 entry on my watchlist I likely would have missed it b/c the NAZ was getting crushed again. -sigh-