Bookkeeping: Adding Back to Acme Packet (APKT) & VMWare (VMW) Today, Covered Amazon.com (AMZN) Yesterday

Just realized my Amazon.com (AMZN) short hit its cover limit order yesterday at $122.25.  Hence my only short is gone - the stock actually held in there quite well as a hedge despite the market rallying, until finally the dam burst late yesterday... today we see what happens when a stock breaks over a key resistance.



Unlike Akamai Tech (AKAM) and Netflix (NFLX), Acme Packet (APKT) has been able to regain key moving averages quickly after earnings.   I still don't understand the selloff for what was a tremendous report along with a big increase in guidance but it is what it is.  I have added back a 1.75% exposure into the name now that the technical condition is much better.



Netflix is actually almost about to break over its resistance levels a few weeks after its earnings punishment... might take the S&P 500 to break free of 1130 to get NFLX where it needs to go.



I cut back the position in VMWare (VMW) a while back to almost zilch, locking in profits.  Since then it has only stayed steady and now appears to be making a "double top" breakout, so I am layering back in with a 1.5% allocation for the day.



Still waiting on S&P 500 to break over 2 levels, 1128 (which is a Fibonacci retracement) and then the obvious 1130/1131 level which would be the first new higher high since April.  But then again every piece of silicon and carbon on Wall Street is also looking at the same levels.

Long Acme Packet, VMWare in fund; no personal position


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