Thursday, July 10, 2008

Swing updates: Stopped out of AAPL & BRCM

Didn't have a chance to post last night.

I was stopped out of AAPL below yesterday's opening range low (just below 179).

I was stopped out of BRCM below 27.80 (tuesday's low).

Just sitting back and watching the reaction to this mornings news this market doesn't feel like it wants to rally any time soon.

The jobs data came out and despite posting what I thought was a significantly better than expected number for this weeks job report, the futures had an initial reaction higher, and only sold off from there. You would think that for a market that's supposed to be "oversold" we'd have a much more positive and sustained reaction.

So now I'm flat and I most likely will be until at least early next week.

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