EDGE TRADER

Thursday, September 08, 2005

Oils

I had a nervous moment today about energy stocks. Mostly because of all the money I've made. I don't want to give it back. I am going to unload more energy over the next few days, and use capital to make more short term trades.

So far ALTR is still in my posession. It broke through downside resistance, yes, but in after hours trading, it held firm even in the face of disappointing earnings guidance from Intel. My feeling is that this was already priced in to ALTR and it is appearing a little over sold at this point!!!

We will see tomorrow. I read the Kirk Report today, and for the first time in months he is indicating he is willing to make some trades, rather than park money and fix up his house. I don't know whether to be happy for the guy or park my trading capital in response.

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