Wednesday, July 28, 2010

Out of ROVI...

I closed my entire position in ROVI this afternoon. I acknowledge that ROVI is still in an intermediate term uptrend although it is currently pulling back short term. However, what has me scared is EARNINGS! If the general trading advice of not holding through earnings is not enough. Look at NFLX and AMZN! Huge gap downs!

Even worst is that a short term trader like me can not afford to take an "avoidable" 5R - 6R hit on a single trade then have to spend the next month trying to make back the loss. So I prefer to step aside and wait for another day.

Now I am only holding 100 shares in DTG long. DTG is acting very strong even through the current short term pullback. With earnings still some ways off; I want to give DTG room to run and see if it can run hard or even breakout to new 52-week highs going into earnings.




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