Well today was another interesting day. My advice yesterday was to watch out for Apple because something may be brewing due to the sharp rise. However, I said I still would short between $98 - $102.
This morning I tried to short, but scottrade said there were no more shares to short. I remember a month or so ago, when "naked" shorts were made illegal (something like that).
Anyways, this is kind of interesting because it means that you can't always short, unless your broker has shares to short. I need to look more into this.
So anyways I went back to bed and woke up 30 min later.
The market was level but Apple was shooting up. Some forum posts were saying that Cramer said to buy Apple. I'm not sure if I believe that. Sometimes what he says causes a fluctuation, sometimes it doesn't.
Anyways, Apple was up 6% after yesterdays 10%. Wtf is going on?
I have recently been following NVDA, which is a company that so far is mimicing Apple. They do video cards for computers (including macs). NVDA was up as well. I decided an additional 6% in about 30 minutes is a bit ridiculous. I shorted and covered 30 min later.
10/29/2008 NVDA COVER 1000 $8.6788
10/29/2008 NVDA SHORT 1000 $8.7601
10/29/2008 NVDA COVER 1000 $8.3188
10/29/2008 NVDA SHORT 1000 $8.5612
GAIN: $323.70
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