Friday, September 01, 2006
Closing Comments
Well, the "junior traders" did a great job with the market this week. As a matter of fact, I would vote to keep the senior traders at home watching re-runs of Seinfeld, while the young, smart guys man the trading desks.
Anyway, the market is going up and will likely make new 52 week highs, during September.
Today's gains were spearheaded by Steal (+2.5%), Retail (+1.1%) and Cyclicals (+0.9%).
As for my positions:
Lucky for PALM it bounced today. However, I am not pleased with how the stock is acting.
I sold out CMOS, for a 25% profit.
I sold some of my TUG position, for a 11% profit.
Its also worth noting, my position in PTRY is starting to look good, up almost 6% today.
Finally, I am very close to opening a big new position. I like the action in AKAM and VSTH and will likely buy one or both. I will keep you posted.
As for hedging:
I cannot pull the trigger on any shorts, until the SOX hits 460. I don't know why, but it is stuck in my head and won't go away.
Considering the SOX fell 1% today, I feel many semi's can be the beneficiaries of idle cash (not mine!), once the expert traders get off their lazy asses and come back to work next week.
The following stocks had notable upside moves:
SUMX, WRSP, VSNT, HAYZ, INGR, HRSH, EGLS, VLNC, ALNY, CCUR, TAG, KRY, AD, THE, SBS, BLT, PDE, SDA, PTRY, OFI, WBD, JJSF, TSTY, DENN, CHB, REV, EXM, RAIL, USEG, GSF, PLLL, SNP, PGS, ALCO, END, EPEX, RIG, GSX, TGA, ARD, CNR, GMXR, MXC, SWN, SFY, HAWK, TIV, DOIG, DO, ATW, NEU, OTD, AVR, BBG, TIE, ATI, GGB, AAUK, RTI, STLD, BMY, CELG, TARO, ABC, VRTX, AMLN, CUTR, SVA, WGAT, TGLO, ARTG, CMGI, REDE, AMZN, IIJI, GROW, INCX, WZEN, ITRA, JUPM, WBMD, CNTF, ZNH, ATCO, COSN, LORL, GIGM, AKAM, SILC, HLIT, AANI, VSTH, MOSS, AEOS, MWRK, BBA, APN, TRID, WIND, DGIT, RHAT, HILL, VIGN, IRSN, SWKS, PAY, IMX, IVAC, ISON, ANAD, ACTS, KOMG, WDC, ITCD, TNE, VG, RCCC, VIP, IFON, WPTE, MKTX, THI, PGTI, GM, LABL and SBS.
The following stocks had notable downside moves:
PGWC, PRLS, LIPD, TRCA, DYAX, DXCM, GNTA, SVI, KFX, NTE, TWB, VCI, ID, KWD, HVT, SIR, FTE, LEND, FRN, NATH, PZZI, COSI, CHCI, PEC, DRYS, IOC, KFX, PDRT, FXEN, STP, ICOC, HOKU, BDSI, ARTW, GPRE, INCY, CERS, HRT, NBIX, ACAD, GNBT, EWEB, GOAM, RNWK, NCTY, SDAY, OCNW, STLW, VRSO, AVNX, CAMP, LPTH, FTGX, GGBM, CTRN, TWTR, ESST, GNSS, NVDA, TTWO, MWY, OVTI, SLAB, BRCM, MSCC, IDTI, SMTC, TIVO, WFR, CCOI, NPSI, NOIZ, BWTR, CLAY, CREL, CTCM and NGS.
Anyway, the market is going up and will likely make new 52 week highs, during September.
Today's gains were spearheaded by Steal (+2.5%), Retail (+1.1%) and Cyclicals (+0.9%).
As for my positions:
Lucky for PALM it bounced today. However, I am not pleased with how the stock is acting.
I sold out CMOS, for a 25% profit.
I sold some of my TUG position, for a 11% profit.
Its also worth noting, my position in PTRY is starting to look good, up almost 6% today.
Finally, I am very close to opening a big new position. I like the action in AKAM and VSTH and will likely buy one or both. I will keep you posted.
As for hedging:
I cannot pull the trigger on any shorts, until the SOX hits 460. I don't know why, but it is stuck in my head and won't go away.
Considering the SOX fell 1% today, I feel many semi's can be the beneficiaries of idle cash (not mine!), once the expert traders get off their lazy asses and come back to work next week.
The following stocks had notable upside moves:
SUMX, WRSP, VSNT, HAYZ, INGR, HRSH, EGLS, VLNC, ALNY, CCUR, TAG, KRY, AD, THE, SBS, BLT, PDE, SDA, PTRY, OFI, WBD, JJSF, TSTY, DENN, CHB, REV, EXM, RAIL, USEG, GSF, PLLL, SNP, PGS, ALCO, END, EPEX, RIG, GSX, TGA, ARD, CNR, GMXR, MXC, SWN, SFY, HAWK, TIV, DOIG, DO, ATW, NEU, OTD, AVR, BBG, TIE, ATI, GGB, AAUK, RTI, STLD, BMY, CELG, TARO, ABC, VRTX, AMLN, CUTR, SVA, WGAT, TGLO, ARTG, CMGI, REDE, AMZN, IIJI, GROW, INCX, WZEN, ITRA, JUPM, WBMD, CNTF, ZNH, ATCO, COSN, LORL, GIGM, AKAM, SILC, HLIT, AANI, VSTH, MOSS, AEOS, MWRK, BBA, APN, TRID, WIND, DGIT, RHAT, HILL, VIGN, IRSN, SWKS, PAY, IMX, IVAC, ISON, ANAD, ACTS, KOMG, WDC, ITCD, TNE, VG, RCCC, VIP, IFON, WPTE, MKTX, THI, PGTI, GM, LABL and SBS.
The following stocks had notable downside moves:
PGWC, PRLS, LIPD, TRCA, DYAX, DXCM, GNTA, SVI, KFX, NTE, TWB, VCI, ID, KWD, HVT, SIR, FTE, LEND, FRN, NATH, PZZI, COSI, CHCI, PEC, DRYS, IOC, KFX, PDRT, FXEN, STP, ICOC, HOKU, BDSI, ARTW, GPRE, INCY, CERS, HRT, NBIX, ACAD, GNBT, EWEB, GOAM, RNWK, NCTY, SDAY, OCNW, STLW, VRSO, AVNX, CAMP, LPTH, FTGX, GGBM, CTRN, TWTR, ESST, GNSS, NVDA, TTWO, MWY, OVTI, SLAB, BRCM, MSCC, IDTI, SMTC, TIVO, WFR, CCOI, NPSI, NOIZ, BWTR, CLAY, CREL, CTCM and NGS.
