Thursday, May 27, 2010

Bookkeeping: Closing NetLogic Microsystems (NETL)

Same caveat as the previous post... if the market is about to embark on the V shape recovery to nirvana ANY sale made today will look foolish. That said, you have to go with probability and assume the atypical is not the new normal.

I am going to sell the remaining 0.5% exposure in NetLogic Microsystems (NETL) for a 6% loss as the stock broke support, and has now rallied back into resistance. This is a nice short set up at this moment, but all it takes is 1 gap up in a morning and the whole complexion of the chart changes to positive as the student body rushes in, afraid to be left behind by the next uber rally.

No position


Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012