Tuesday, August 22, 2006
Sector Spotlight: Internet
I want to point to the internet sector because they seem to have caught a bid. Most of these stocks are heavily shorted and still have decent revenue and earnings growth. And, with the summer winding down, next thing you know, the holiday shopping season will be upon us and the jerks at CNBC will feature these stocks every 15 minutes.
As far as today's broader market is concerned: it looks good. We have a rally going that confirms why I was so hesitant to open up a short position yesterday. Even though this rally is probably a little long in the tooth, it will likely trend higher until September.
Then watchout.
Here is a list of today's internet stocks with mojo:
TZOO +8.2%
TFSM +5%
EXPE +3.9%
EBAY +3.9%
ALOY +3.8%
RNWK +3.6%
SIFY +3.1%
CKCM +3%
TSCM +2.8%
MCHX +2.7%
VCLK +2%
OSTK +1.6%
IACI +1.6%
CNET +1.6%
NOTE: The semi's are showing plenty of strength today, with big gains in AMD, CNXT, TRID, FORM, MTSN, CHRT, WFR and UCTT.
As far as today's broader market is concerned: it looks good. We have a rally going that confirms why I was so hesitant to open up a short position yesterday. Even though this rally is probably a little long in the tooth, it will likely trend higher until September.
Then watchout.
Here is a list of today's internet stocks with mojo:
TZOO +8.2%
TFSM +5%
EXPE +3.9%
EBAY +3.9%
ALOY +3.8%
RNWK +3.6%
SIFY +3.1%
CKCM +3%
TSCM +2.8%
MCHX +2.7%
VCLK +2%
OSTK +1.6%
IACI +1.6%
CNET +1.6%
NOTE: The semi's are showing plenty of strength today, with big gains in AMD, CNXT, TRID, FORM, MTSN, CHRT, WFR and UCTT.
Comments:
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What do you think about buying HHH, maybe some 07 calls, then dump it when CNBC opens their mouth?
Oh, btw, is XMSR a buy here? It stunk all year, but price up on 15 million volume. true rebound or is it just football season?
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Oh, btw, is XMSR a buy here? It stunk all year, but price up on 15 million volume. true rebound or is it just football season?
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