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Trading results 12/8/10

It was a very long but slow day.

Not much of a surprise this morning with my overnight CML. It did open up and fall down but it didn’t down as far as I would have liked. CML has done this to me several times and they tend to compound each other. Like the want of a nail the shoe was lost. The want of a penny or two and I end up still in CML. I love the chart pattern and today was a bearish bar but don’t enjoy the thought of waking up to find out they have been given a take out offer way above the close. While it shouldn’t happen as the price is so high relative to normal valuations you need oxygen to buy it. Maybe the market picked up on the 90x forward earnings as CML was unable to stay above 34 for very long and when it did it fell back quickly. More of a short squeeze than real buying.

KFY gave me a B9 short signal and the new entry confirmation once again gave me a lower number than the old one. Unlike CML not much would be different at the end of the day. But the difference is larger than I am comfortable with so I will be back at it trying to crunch the code to provide for a closer entry signal. I am carrying both stocks overnight and while I love the KFY overnight the CML will be covered tomorrow on any weakness. I have fewer CML shares that I am carrying over and my average price is about 40 cents a share higher.

CML – 600

- 600