Thursday, April 24, 2008

Sold Nintendo and SKF, bought ultra short oil

finally sold my NTDOY.PK at $70.95, i'm not sure i ever received any dividend, or will be receiving, at least i sold at a price that is closed to breakeven.

At the same time I sold SKF at $109.08, not the best price but very good still, as I made a 6% since I bought last Friday, can't complain.

On the other hand I think the oil went up too fast, I am expecting a short term pull back to close to $100 before it can go up again. But I think i didn't get into it at a good price at $10.99, now it's at $10.77 so i'm down by 2% in the blink of my eye..... I bought in at before 10:30am, somehow I think i should not buy from there. If i at least wait until 11am i definitely should get a better price.

earnings report period cannot serve as the main gauge of the direction of market because there could be too much noise. as i always say i want to see the follow through trend and volume, which should only happen after the earnings season. If there are no news and people still keep buying and price at least does not drop, there could be something. In the meantime let's watch and learn.

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