Thursday, December 07, 2006
Everytime the market shows weakness, the buyers step in and absorb the sellers, then they swallow them. So, shorting is not a choice, for me, unless I am 100% certain of a decline.
Today's trading was mixed, as Energy lost momentum and the Networkers continue to go banana's. Stocks like AKAM, EQIX and RBAK continue to flame broil the sellers.
Speaking of flame broiled, my NGAS position looks like crap. I will probably book the loss tomorrow. As for UPL and VLO: I will add to those positions on a 3% dip.
Finally, I like the action in the Metals, as ERS, NUE and TIE continue to defy gravity.
NOTE: I know many of you own MVIS with me. I will have an update for you tomorrow. So far, everything looks good.
Thanks for your insight the other day.
I was wondering if you recommend a way to see which sectors are doing well at a particular time. I know that you watch the semis and oils religiously, but how can you tell if a sector is going to stay hot for any length of time?
Sorry for the beginner questions.
Any dip on VLO is woth a look.
However, I do admire your tenacity and contrarian ways.
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