In the comments yesterday, Brian commented that I was long Synpatics even though I knew what was coming. So true. What separates the amateurs – me, from the pro’s – self proclaimed :) – is their ability to flip quickly. I was smart enough to scale out of Synaptics as it rose to $60, but knowing that I knew that the componenet cycle would end like all others, rode a piece down and added more in the low 40’s. A self procalimed pro would have sold and shorted it.
Akamai, for all it’s cacheing greatness is a commodity too and the target of major pricing pressures both from competition and it’s customers. That has finally caught up. Yesterday, the rumor was Apple was making noise about Akamai and the stock dropped into the 26’s really fast. I ‘twitted’ that I covered it into the news. I am happy with 10 points, especially fast ones.
I may do this shorting thing a little more when the situation is right.
Any new faves out there? –
The market is the best teacher and drug. As long as you stay in the game you will enjoy a lifetime of lessons.