Subscribe Feed (RSS)TLAB and RBAK
March 6th, 2006 by eyal | Filed under Day Trading. |
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The market looked weak in the morning and I didn’t see any compelling longs so I went short with TLAB and RBAK. I was initially oblivious to why exactly they both moved (the only thing I check the news for is that it’s not a Cramer stock ;) like MRVC for example). I later realised the connection with the AT&T BLS merger. Anyways, I covered half of each position at around 3pm in an attempt to lock in some profits and protect from a late day rally back up, particularily as they are both correlated. It didn’t really change anything though. The end result is about +2R each for a total of just under 4R profit.
