Tuesday, July 21, 2009

Fighting a Trend

I went long TYP into the close at 16.86. Why? I was feeling a bit contrarian as everyone was chanting about the strength of the Nasdaq. YHOO, AMD, and AAPL were set to report in the after hours. YHOO missed on a few metrics and goosed TYP a little. Then AMD missed big time and goosed TYP a little bit more. And then AAPL. At first blush I thought they missed and I was going to be to the good fast, but they didn't miss (b/c they never miss!) With AAPL trading at highs now in the after hours up 5.50 I don't see it pushing higher tomorrow. My stop loss on TYP sits in the high 15s, so perhaps I won't get blown out of the trade. The trend is very powerful in tech and I knew that going into it. If I get an outside reversal day tomorrow in AAPL and some general weakness in tech I will add more TYP unless of course I get stopped out.