Monday, November 20, 2006

 

Sector Spotlight: Tech

After watching Japan and other Asian markets get their asses kicked by the sellers, I was a little worried that we may sell off too. But then I remembered all the asshole dip buyers and how they love to buy a good decline, and I knew we would be fine.

Presto, the market is green and kicking the sellers in the nuts, again.

Let me clarify: The market will NEVER trade down for more than 2 hours again, NEVER! As long as we are chockful of high multiple Tech stock, there will always be "smart money" available to carpet bomb the sellers.

I swear to you, I have turned off the thinking mechanism inside my brain and have decided to just go long-- until it doesn't work anymore. I feel that is the only way I could participate in this bull market, without worrying about driving off a fucking cliff.

As for Tech:

Once again, they look great. Not to sound like a broken record, but SNDK looks bound for low 50's. Also, I like what I am seeing in NVLS, RIMM, LCRD, KNOT, REDF, SIFY, NTES, LQDT, NTGR, MRVL and MSFT.

NOTE: I knew something was up with the Metals on Friday. PD caught a bid. Aside from PD, I think PCU and AL are attractive takeover candidates. Furthermore, I like ERS and CLF for a trade.

Comments:
Broker A,

Are you buying SMDI? Sorry, I still learning some lanugage here ... rolling some dice means buying or just thinking about it?

Also, you said you will do some HW on SMDI. Did you get a chance to do some with your busy schedule?

It is moving up lately though!

Thanks for your posts and any feed back.
 
I did my HW and I am confident that the selling in SMDI is overdone.

As indicated in my "FlyBuy" post, I bought 5,000 shares, so far.

1st target:$10.
 
Broker,
Am I halucinating or did I just see a guy on CNBC saying though he had just been severely poleaxed holding PD short he was still reasoning why shorting PD was a good thing.

Please tell me he is crazy.

Thanks!
 
Oh, he is crazy alright.

CNBC requires that you fail a mental examination, prior to going on the show.

My guess, that man went to short more PD, after leaving the set.
 
LOL and thank you. I thought I was seriously losing my mind.
Thanks for the intelligent yet humorous blog as well.

MC
 
what do you think about nbr? do we get a takeover bid?
 
I also see a lot of buy interest in FINL, finish line. do you like it?
 
FINL is ok.

NBR will never get bought out. They suck.
 
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