Thursday, August 10, 2006

Bottom Fishing

Lots of craziness in the news today. The terrorist airline plot authorities thwarted is really scary.

Anyway, onto fishing. I was filled on an order to pick up some Rackable Systems (RACK) at 18.75. Maybe I'm catching a falling knife here, but it is what it is... the trade's been made. The stock has sold off horrifically, and I think at this price, it's overdone. Wish me luck. Keeping a close eye on this. Not willing to take too large a loss if it moves against me.

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