Ha! Got you. Or maybe not, as I'm writing this before I see the reaction to my April Fools'
But if I did get you, fear not: I am here. I am alive. I do not have to declare personal bankruptcy.
If you want to know how I really played the past few days, I was out of all my long positions by Wednesday at 10 a.m. As I've discussed in the past, a good trader is constantly playing defense, and if my longs aren't working, it's rarely me -- it's the market.
So since I hated how Tuesday played out on the long side, I resolved to take every short I could find on Wednesday (there were plenty) and to keep only a handful of longs. By 10 a.m. it was clear even those weren't going to hold, so I sold off, and bit by bit cashed my shorts as they dropped.
On Thursday, I had the luxury of coming in flat, and with no desire to make any trades. I was content to just sit and watch. The market can be a wild beast, and frankly, if you're not scared at times, you're either young or inexperienced. But, if the market does scare you, it's OK to sit out a session or two. In fact, it's often wise.
That said, I did have a list of shorts ready to go, just in case the market rebounded. Sure enough, a few of my candidates were up 8% to 10% from the open, so I took a chance and started shorting. And, well, you know the rest. I covered all of them by midafternoon.
So I dodged a bullet or two. Next time I might not be so lucky. But I can guarantee you this: I will always have a healthy respect for the market and play good defense whenever I can.
And Now for the Charts
OK, enough about that. Last week, I asked for some wireless stocks, and boy, did I get wireless stocks! Now, I'll tell you right up front. I did not get to a bunch. And, no doubt, I didn't get to your personal favorite. But at least I tried to get to some of the most requested. After this past week, are you sure you want to look at these? OK then, onward!
Oh, yeah, that address thing: email@example.com. I'll be the guy wearing the barrel. (Please do not make me explain that!)
Gary: Aether (AETH) took a dive recently along with most other new tech (though it is recovering). Could you kindly include it in your next weekend look at wireless stocks? Dr. N. Shaffer
Gary: In regard to your request for wireless stocks to chart, could you please take a look at Centura Software (CNTR) ? Phil Kariniemi
Mr. Smith: For "Wireless Weekend," how about two of JJC's favorites, 724 Solutions (SVNX) and InfoSpace.com (INSP) - Get Inspire Medical Systems, Inc. Report? Also, some other time a chart of Sycamore Networks (SCMR) would be useful. Howard Shatz
Gary: The wireless stocks I have been following are: Research In Motion (RIMM) . Cool wireless consumer products. Also, Metricom (MCOM) : If you like wireless modems, you should really look at the system they are building. David A. Gubbels
Gary: Burr-Brown (BBRC) is an old, "real" company with a real P/E ratio, real earnings, etc. Their claim to fame has been that they make arguably the best operation amplifiers (op amps) in the world, and are reinventing themselves by making hybrid devices that mate with their op amps, necessary to interface the Internet to the "real world" with DSPs, RF amplifiers, cell phones, handheld devices, etc., to become part of the wireless Internet, HDTV, satellite, etc. Anyway, I think it a great small-cap wireless play. What do you think? Ron Walker
You have to admire David's brevity!
Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. At time of publication, he held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes five technical analysis columns for TheStreet.com each week, including Technician's Take, Charted Territory and TSC Technical Forum. While he cannot provide investment advice or recommendations, he welcomes your feedback at