Sun Microsystems warns on Q1. SUNW dropped 10% in after hour trading. Glad to be stopped out @3.88 last week!
Didn’t get chance to go long on SOHU since it went up 10% today.
Internet Stocks
Here’s the YTD chart for some Internet stocks.
SNP
Sold at 27.24.
SUNW
Stopped out @ 3.88. SNP stalled, let’s get out in light of current market correction. SOHU is approaching support level at 30, if it holds up, then go long again with target 35 annd stop right below 30.
Reversals
Triggered by OPEC’s cut in oil production, all indexes dropped a lot. Although they were above or at support levels, the increased volume was troublesome.
EBAY hit the target @56 though the intraday high was 57.2. Left a lot of money on the table due to lack of time on watching the market closely.
Long: QQQ Oct 32 Puts, SNP (target 28 and trail 2), SUNW (trail 0.3) and MSFT SSF (target 31.5 and stop 28).