The market sold off pretty nicely today and proceeded to erase yesterday's gains. A bad report from the Philly Fed index was a possible catalyst. RIMM was in play today after providing upside subscriber growth numbers, but was not able to make any headway given the market's malaise.
Some out of the money puts are probably a good bet right now. I'm considering buying some for AAPL, maybe the 110's.
VDSI was wiped out today after missing earnings. I went ahead and opened a long position at 11.39 at the end of the day. The company has heavy institutional and insider ownership, and this MAY finally be the bottom for this one. I've been watching this one for a long time and have been waiting for a buying opportunity like today. This is still considered knife catching, by the way and the risks are still high considering the selloff.
See you tomorrow!
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