For a technical trader, or at least for this
technical trader, it is MUCH easier to short big blue-chips
on margin following little moves, than it is to
short internets on no margin. They never cease to
confound me. Long isn't so bad but for all the nice neat
downward trends you see in the charts, some of them are
Seems to me this is the third time they have had
a blurb on INKT.
Funny about this stock. Quiet
articles LA Times, Forbes, etc.
Just like Mr.
`Peterschmidt's low keyed approach.
Ya know, I have friends
I'd like to turn onto this stock but they'd have to
endure the boo-bbo tummy. It will be fun when this
settles down and goes up steadily.
I thought I had this one dead to rights until
about 8 am, walked away...it was 105 and change...came
back it was 110. Normally if a stock hits resistance
like that 3 times it either reverses or breaks through
so I waited for #3. Never happened. AMZN knows how
to bust my balls. On 3 shorts in as many weeks, I
lost, 12 pts total on 250 shares. Lost 3 1/4 on this
last one. (Man, it smoked right through my stop limit
too.) Got out ahead once but I had my opportunities on
all 3 of being up at least 4 pts. My day of being
yanked out of my shorts and longs was the really
painfull one. I'm still short on some in other sectors
like T but the nets...sometimes they just do weird
stuff, and I'm not one of these idiots who just short
for no apparant reason (IMHO).
taking the bike to Orcas Island for a nice ride when the
rest of the tourists are at work so at least I exited
AMZN today one way or another. I'll have no worries
that day. Cheers everyone. Have a good weekend!
The new issue of Fortune Magazine has an article
titled "It's the technology, stupid: Inktomi mines the
less sexy parts of the web." It states "Inktomi
positions itself lucratively as the Intel of the Net."
I always used to like Meyers Rum and soda with a
twist of lime. I have been reading the Arkansas
newspapers and they scorched Bill Clinton today about his
money raising for the defense fund. The Washington Post
had an op ed piece stating that Nixon was the last of
the great liberals which there are good arguements to
support and Clinton is the last of the
From Red Herring article on NTAP's earnings
'Mr. Milunovich notes that although he rates the stock
a Buy, he was disappointed with sales of the
company's NetCache product, which fell to 5 percent of
sales from 8 percent.
In a statement explaining
the earnings announcement, Network Appliance CEO Dan
Warmenhoven explained that the NetCache decline came on a
reorganization of the sales force that focuses on the caching
"We have argued that network caching has
low barriers to entry and low switching costs, which
makes for intense competition. Competitors say that
Network's skill at fast data reads and writes is less of a
factor in caching than [in] filing," Mr. Milunovich
... at this time in the market. Too many good
vibes. Doesn't matter what the company does financially.
When the market is on a role like this, don't get in
the way. Good news, net stocks go up. Bad news, net
stocks go up. It is a good time to be long.