Monday, November 17, 2008

More Weekly Charts.

The spiders technology tracking stock, ticker XLK, looks very, very sick. Remember now, this is a weekly view.

The above is the semiconductor holders ticker SMH. What can I say that the chart doesn't. Yup, sure wish I had listened to those shills on CNBC on gotten long tech as a safe haven. Or as they would say on Wayne's World......NOT !!!!

I am still short AAPL and intend to stay that way. The ultimate discretionary consumer stock still has a long way to fall.

Apple's competitor Research in Motion (ticker RIMM) is faring no different.

I neglected to include the financial spiders ticker XLF in my earlier post this morning, alongside the KBE and KRE charts. So here it is.

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Short 1 unit Apple ticker AAPL @ $110.90 stop @ $100.53
Short 1 unit ticker CRM @ $56.05 stop @ $32.56

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