Wednesday, May 25, 2005

AMATeur Hour

Quick update... Established a medium-sized short position on Applied Materials (AMAT) today @ 16.30. The stock was actually pretty strong today all things considered. Oil is starting to move back up, and my belief is that the markets will pullback a decent amount as it continues higher. AMAT seems a bit overextended here. This is purely a trade. Won't be holding this short for too long. As of the close, I'm out a dime. We'll see what happens in the next few trading sessions.

1 comment:

Anonymous said...

Clever title.