Monday, July 20, 2009

Expecting a Pullback here.

Picks from last night with the exception of CORE did really well today. TEN up over 14%, FFIV up 3.7% and the superstar for today was UTA up 19.9%!

However, I’ll be very cautious going long here. S&P is running into heavy resistance and NASDAQ has been up for nine straight days. We might have another green day tomorrow but the risk/reward is not worth it.I had a great day today trading FUQI,GMCR,DISCA,FFIV,UTA and CTRP.I am 100% cash now and will look for index short opportunities tomorrow.

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