End of Day Notes

Tough day out there. I saw the market rebound and went covering my shorts in MED and MLS in the morning. I forgot that these two stocks had their own stories developing. Still, it was an overall low volume day, which is never good for the bulls after they just had a mini-rally (last week). The best performers were energy stocks and other hurricane plays (BDCO, FUEL, NGAS, XTO, HOKU). These will be the worst performers (w/ exception to XTO) if a hurricane does not hit the Gulf. Looking back, I did expect this week to have a bunch of dead cat bouncers, and it certainly turned out that way... check out PALM, ERS, ATHR, MRVL, TIE. All of them gave up almost everything that was gained.

• MED- those who bought on Stock Lemon's recommendation got hit
• CREAF - I wanted to go long this stock, but someone put in a 20,000 sell order close to the stock price.
• NVEC- I get the feeling that I should have covered and re-shorted on Monday. I held on to the short thinking the bulls would be too scared to touch this.

[picture above is some sailboat in Waikiki beach. It's pretty sunny here, which makes me wonder why everyone is buying up HOKU, which is in Pearl Harbor, as a hurricane play. I'll be the first to tell you if the weather is bad! Took some Californians to Waikiki last night and walked everywhere. Now my legs are sore. It was pretty cool watching this guy on the street juggle a zillion baseballs. Best part of the day was walking on the sand at night... just avoid those honey mooners making out.]