Thursday, May 27, 2010

Bookkeeping: Closing NetLogic Microsystems (NETL)

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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.



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