Three days, well, actually closer to 2 1/2 days, have passed since I dipped my toes into VMware for a smallish position. This morning, as I fell asleep in front of the TV, I slept right through the first hour of the market. Happens. Good thing I did.
Turns out I was a tad bit early on VMW. After buying it at 97.66 on Friday (after hours), the stock sold off this morning. Very similar to Crocs. VMW dipped below 92, then made a rocket-like run to 98 plus within an hour. Talk about fickle! The stock has leveled out, early hit 100 in the past few minutes and is currently at 99. That's an opening hour I'm glad I didn't see. The stocks with earnings out these next few days are turning out to be in good shape even as the Dow is still down and Nasdaq is fighting to stay in the green.
With earnings out after today's session, Apple ran up +$4 earlier, which had me thinking about how futile it can be to fight the trend. Apple's my favorite stock, had my favorite product (and it's not the iPod or iPhone), and I added VMware instead on Friday. On the other hand, I'm glad I didn't buy more CROX at 66-67, since it dipped below 61 this morning — a steal. CROX is back up a bit at 64 now.
Signs that the selloff is waning, no question. The doomsayers got their say and the sun is still shining. Well, maybe not here yet(still dark here in the islands), but I'm not about to short sunrise nor anything else.
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