EDGE TRADER

Monday, June 19, 2006

A fakeout open

that probably successfully tempted some traders to buy. I wouldn't have, but we will never really know since a technical issue with my equipment kept me from doing anything. I have a battery powered backup system, but I saw enough of the action this morning to know not to bother killing myself. I am up and running just fine now, and pondering where to go.

My NCC short is perplexing in the way it refuses to move - read an analyst piece in Barrons that reduced the price target to $32 on it, but we are still hovering around $36. Do I trust it or was it one of those "downgrades" that helps a firm get out from under a NCC short position just before the upward trend resumes? I think the fundamentals are in my favor, but I'd rather be wrong on the fundamentals and right on the trade than the reverse.

Not seeing much in the long department; I may revisit an intraday long setup during trader lunch hour if anything presents itself.

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