Fly on WallStreet

Today was a non-event. We saw more of the same upward movement in heavily shorted stocks, like MFLX.

As for me, I have just about had it with PALM. If the stock cannot show me something within 2 week prior to its scheduled earnings, I may have to cut my losses.

Reason:

Although I feel the stock is dirt cheap, letting a small loss become big is a cardinal sin-- in my book.

So, the month of August has ended with all major indices doing quite well. Don't expect the same type of melancholy trading in September. I will be extremely vigiliant in protecting my profits and may go from bull to bear at any minute.

I am fickle like that.

Bottom line: Keep a close eye on the Transports and SOX. Should those sectors falter, put some protective hedges up. Also, get ready for some damn important economic data tomorrow.

The following stocks had notable upside moves:

ITG, FACT, NKZ-WT, TWPG, PSBI, CYTR, ZVUE, GMTC, IGTE, BNP, DIO, PLM, CLG, ANX, MGN, GRZ, BTH, GLG, WWE, NCS, SLW, MDG, HEI, CDE, DCP, SVU, PTRY, COSI, VCO, CHB, CHCI, TARR, JOE, TEX, FLIR, FWLT, PEC, REV, CVTI, TOPT, TR, JOYG, BUCY, SYNM, CCJ, CFK, END, GMXR, OTD, ARTW, RTK, AG, ANDE, TMY, TIV, FXEN, IIIN, PCU, YPF, DK, CRIS, ARIA, GTOP, ISIS, MAXY, CERS, NMTI, TRCA, NBIX, BSML, BDMS, VSTA, HYTM, VICL, GOAM, MIVA, CKCM, EDGR, EXPE, DIET, SFE, TOMO, PAAS, HL, KGC, AUY, MAMA, INCX, WWWW, CHKP, CAT, ATCO, HLIT, SILC, MWRK, JWN, WTSLA, AEOS, CC, BONT, NIS, SEAC, CBZ, IRSN, ATE, OTIV, NVEC, TIVO, IMX, IVAC, SYNA, MFLX, HIMX, DRAM STEC, NZT, VG, CTLM, NDAQ, DE, CREL, EICU, DCP, CPX, REST and CLAY.

The following stocks had notable downside moves:

PGWC, GNTA, LTXX, PARL, MEH, DAR, AD, GG, VCI, TIF, AMX, VOL, JDSA, HANS, FIZ, PNRA, ACLI, IPII, QLTY, BQI, GGR, SHI, MXC, GSX, ICOC, FTO, FPP, ACH, CELG, MEK, NTMD, EMIS, MED, SIGA, NVAX, STMP, TZOO, WGAT, RATE, CMGI, GMKT, JDSU, FNSR, CIEN, MRVC, AVNX, AFOP, BKHM, EXFO, AMCC, SCMR, LORL ,TUTS, MSPD, JOSB, DBRN, CTRN, HOTT, GES, FORD, ZUMZ, GNSS, TRID, RHAT, HILL, EMKR, SMTC, VTSS, MSCC, MIPS, PLAY, KLIC, SPSN, UCTT, AUO, HURC, NGPS, MOT, TNE, WTHN, IFON, NSTR and DXPE.