Tuesday, October 03, 2006
FDRY has Limelight (AKAM's main competitor) as a client and just signed a deal with BIDU today. I like the action in the stock and feel it could go to $15.
On the short side, I still hold positions in ATHR and MZZ. The reason why I covered RACK is due to market sentiment.
Meaning: If bad economic data, fucked up MRVL guidance, and dozens of option backdating scandals can't rattle the markets, I don't know what can.
I am tired of pushing the boulder uphill-- its much easier to roll that bitch down.
So, for now, until I see a break, I will add long positions and lever myself to the dumb money sloshing around. However, I will keep a very short leash on new trading longs.
As for today's markets, it was incredibly strong-- as CNBC got their new high and the bulls cut up a few bears in the process. However, there was considerable weakness in Semi's, as MRVL dragged everything down with it.
Prescious Metals and Energy stocks got poleaxed today and look ridiculously bad. Therefore, they are probably good trading buys here.
Finally, the Retailers were on fire today, as the consumer is deep pocketed-- due to collapsing energy prices.
Botton line: The markets have momentum to the upside. Fucking Goldilocks.
NOTE: It appears VLO warned after the close. The stock will likely trade up tomorrow, since everyone knew it was coming.
The follwing stocks had notable upside moves:
ICE, IFC, SPTN, PFCB, AXR, IMKTA, IRS, IRBT, AH, REV, PWX, QLTY, JBHT, SWFT, WERN, CHNR, XNL, USEY, PDRT, DVSA, HSR, PRB, BBC, MDV, LCBM, STGN, EMIS, IFLO, BDMS, VSTA, STJ, SIGA, GNBT, CARN, HEB, APTM, SRVY, BVSN, PACT, NENG, CMGI, CTRP, GOAM, INSP, MAMA, QPSA, WSPI, WBMD, DTAS, CTDC, LPTH, ZNH, ATCO, APAT, LNOP, FTGX, PCTI, GIGM, GGBM, TUTS, MIKR, OCCF, AV, CRI, SPLS, HOTT, CROX, MWRK, RVI, EVST, ARO, BID, TWTR, TVIA, HILL, LIOX, OPSW, CPCI, CRM, CTCH, EPIC, SWKS, SMTL, RFMD, CLEC, PTNR, DECC, PGWC, CLUB, CBRX, ACOR, NMGC, SYNX, SIGA, TCHC, CLRK, NTOL, BRR, TWW, XPO, AAU, RWC, WCC, SPC, FLE, VDM, NWY, PBY, CAB, CDL, HVT and FFH.
The follwing stocks had notable downside moves:
FACT, FRGB, PBG, NWD, COSI, TSTY, WLT, DHI, EME, EXP, JOE, OSG, CLB, TBSI, PLLL, IVAN, GGR, NGAS, LNG, CFK, BQI, IOC, SHI, HOC, SU, ECA, PCZ, VLO, ABLE, NXY, WRES, GSF, MRO, SUN, DWSN, MCF, CCJ, OXY, TSO, ANR, PGS, JDO, AEZ, QTWW, DRQ, NOV, TMY, BRNC, DO, CAM, RIG, SM, CRED, GDP, HAL, END, SWN, BEXP, CPST, BTJ, PDC, HES, CNQ, BJS, FDG, PTEN, TGC, DK, BMD, HOKU, ACI, GGY, RRC, FUEL, SUF, ERS, FCX, CUP, NTO, PD, TIE, BVN, BOOM, RTP, X, PCU, AL, ZEUS, NUE, GILD, AVNR, BIOV, BIVN, MATK, VPHM, FOXH, CLZR, BSML, DGX, BCRX, XOM, MIVA, ICCA, IPAS, KNOT, LQDT, BIDU, CNVR, VGZ, HL, SA, SLW, NXG, GROW, ABX, GG, KGC, AUY, PAAS, NEM, AU, MRVL, GEX, LTRX, IKAN, NETL, TXCC, ANTP, NT, AMCC, LVLT, EZPW, COLM, WEDX, ZRAN, OLED, PANL, CRYP, SMSI, CTXS, TIBX, EMKR, CNXT, IBIS, STTS, SMTC, BRCM, ATHR, UCTT, BITS, IOTN, IMX, NGPS, SIRF, ANAD, AATI, LSI, MDLK, CYCL, CWCO, EPG, STR, EICU, SFLY, REST, CPX, BAS, MWA, MR, DXPE, PEIX, MXWL, HDTV, MODT, LMRA, DCTH, NCST, LCRY, IPSU, SSRI, PLM, ALY, TRT, CLG, GBN, NAK, GRS, ITP, GDI and MDG.
Sorry about the rant - all I wanted to do was to provide a friendly warning that sometimes things might not appear as they seem.
I'll go away now that I'm no longer welcome here.
I have been looking around on a lot of blogs and some very prominent blogs even and I see a lot of people saying this is a false high and that things are not even close to good right now. Are you seeing this and do you see a massive MCAD divergence on the DOW? SMH looks to be close to breaking down pretty bad too. Thoughts?
However, it seems to me a lot of money is being drawn in from all sorts of places--pushing the indices higher.
So, I have decided to scalp a few longs, while always looking for a breakdown to go short in a big way.
Basically, I am hedging.
I think short WFR makes sense.
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