February 12th 2007
Swing Trade - Short XMSR: Update
Looks like XMSR took the bait and is now on its way lower.
I don't want to be a market commentator. I prefer to leave that to people smarter than I. But I'll give it my best shot: the NASDAQ is showing some weakness in that it's ascent has been stalled for almost 3 months. Now, the Nasdaq is flirting with its 50 day SMA. If it can take the 50 day SMA out while showing some acceleration, I think XMSR has a decent shot to close the gap at 11.95. If the market bounces off its 50 day SMA then I will expect XMSR to be a wash, moving sideways at best. As always, I look to the price and volume of the stock to tell me what to do.
I don't want to be a market commentator. I prefer to leave that to people smarter than I. But I'll give it my best shot: the NASDAQ is showing some weakness in that it's ascent has been stalled for almost 3 months. Now, the Nasdaq is flirting with its 50 day SMA. If it can take the 50 day SMA out while showing some acceleration, I think XMSR has a decent shot to close the gap at 11.95. If the market bounces off its 50 day SMA then I will expect XMSR to be a wash, moving sideways at best. As always, I look to the price and volume of the stock to tell me what to do.
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