Wednesday, April 30, 2008

The race is on, and it looks like heartache

GOOG today: 574.29 up 15.82

GOOG, the Heartbreak Kid, is coming from behind. AAPL, RIMM, BIDU and the other horses in the race all fell back, today. That's the news from Track Wobegon.

And good news it is. But what a strange race. There's no finish line. It's never over. Just a lot of relative moving ahead and falling back. You switch from horse to horse, hoping to stay ahead; or you pick one nag to leave the rest in his dust. And you can stay at the track until you have to go home.


balljet said...

You have to get a plan.. there is no way around it. Sell an OTM call or set a stop loss. Dont't get greedy and don't second guess. Find support and resistance then plan what to do when it gets there.. or hold long term and don't worry day to day.

Larry Blumen said...

Hello, balljet

Good to hear from you again.

You're right about getting a plan. For the past eight months, my plan has been essentially GOOG and cash. For the most part, it has been a good strategy.

What I need to work on, now, is execution.

balljet said...

That is definitely important. My strategy has been LTH of GOOG and selling OTM calls past the point where I see resistance. Right now I am short the 610 May call. Of course when GOOG moves as much as it did over earnings I loose out. I just try to make extra cash per month. With this kind of volatility it is hard to do but the premium is higher.