Wednesday, January 03, 2007

Push (trading)

Let me wade right in here. At one point Crocs sprinted up almost 5%. Watching it, I was thinking $50 by Friday and $60 by month’s end. That may be overly optimistic but hey I can attach any number I want when I am daydreaming.

Well it didn’t take much to snap me back to reality. Sandisk is the antidaydreaming stock if there ever was one. At one point Sandisk was down almost 5%. What’s with the 5% stuff today? So my idea of a rise going into CES burst into flames and came crashing down around my head today. To my knowledge there hasn’t been a big press release about anything, so I have no idea what was the driving force today. My lack of understanding doesn't stop the speculation from flying on the boards. Sometimes a little comic relief in the middle of a melt down is healthy. For the record, I am voting against the drop today being the result of “the pros coming after the little guy conspiracy”. But let it drop like this again tomorrow and I might reconsider. What I do know is that it was Ugly today. And I am back to internally questioning my hold decision.

At the close CROX was sitting pretty with a 1.85% increase and Sandisk sat with a 3.04% loss hanging around its neck. Both stocks made their move with above average volume. After having my emotions run in two different directions, like my stocks, it was anticlimactic to have my account finish almost even for the day. Like a stupid push in blackjack today left me a touch unsatisfied.

How do you feel when you end flat neither showing a gain nor a loss for the day’s effort?

That’s it for today. Here’s to not ending flat too often and to keeping an eye on your EveryDay Money.

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