Wednesday, September 20, 2006
Sector Spotlight: Software
The bulls are running again. I doubt will we get any surprises out of the Fed today. Moreover, there is a good chance the market keeps going higher, despite what the bears say or do.
The fact of the matter is, the market wants to go higher. Fighting the tape, because you may think the market is overvalued, is never a good idea. Over the last two weeks, I have made costly error's trying to time the top in tech and the bottom in oil. That's not my game.
I will try to rectify that.
As for the action today, we are enjoying a broad rally, led by ORCL and the software group. For too long the software sector has been overlooked by investors, in favor of the semi's or internet stocks. However, now that we are getting kick ass numbers from the likes of ORCL, ADBE, CRM and many others; maybe the group is ripe to move much higher.
For now, I am going to nibble at ADBE. Keep in mind, Adobe software is used in all YouTube downloads.
The following software stocks have mojo:
ORCL +11.6%
CTXS +7.9%
LNUX +5.5%
RHAT +4.7%
SMSI +4.3%
MANH +3.8%
ELX +3.2%
SYMC +3.2%
THQI +3%
The fact of the matter is, the market wants to go higher. Fighting the tape, because you may think the market is overvalued, is never a good idea. Over the last two weeks, I have made costly error's trying to time the top in tech and the bottom in oil. That's not my game.
I will try to rectify that.
As for the action today, we are enjoying a broad rally, led by ORCL and the software group. For too long the software sector has been overlooked by investors, in favor of the semi's or internet stocks. However, now that we are getting kick ass numbers from the likes of ORCL, ADBE, CRM and many others; maybe the group is ripe to move much higher.
For now, I am going to nibble at ADBE. Keep in mind, Adobe software is used in all YouTube downloads.
The following software stocks have mojo:
ORCL +11.6%
CTXS +7.9%
LNUX +5.5%
RHAT +4.7%
SMSI +4.3%
MANH +3.8%
ELX +3.2%
SYMC +3.2%
THQI +3%
