Monday, August 18, 2008

Blinded, slightly

I don't know if I am too biased to be in anf anymore. I want it to go up--probably too badly. There was some good volume on Friday and it ended up where it began. Today there was very low volume and it declined. There's a support at 51.26 or so. If it breaks that I definitely don't want to get in until $50 or so. But I still want to get in.

In any case, I'm hoping there is a lot of volume in GS tomorrow. If there is and it drops below 160 (I'd like a little bit of capitulation) I think I'm going to bite. The financials were shaky today and will probably be somewhat volatile tomorrow. GS still has downgrades hanging over its head, but I doubt it'll stay below 160 for too long; although, I'd rather not be holding it should the stock retrace to 152. (It couldn't go lower, could it? ...140 does sound like a nice price though.)

As for aapl. I'd say wait for it to fall. It's tipping over the top, and should be headed downward soon. I'd like to get into it around 165 or so. Although, the potential for gain doesn't seem as good as with GS and AnF, I'd be happy with it.

INTC is looking good. I'm not in it, but I'd lower the stop to about 24.25 or so. Maybe that's too tight, but I'd at least put it to the high of today. I don't like ignoring stops too much. I always lose too much money when I do.

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