Thursday, December 07, 2006

 

Closing Comments

The market is consolidating its recent gains and may continue to do so for the remainder of the year. However, barring a major catalyst, I will not be shorting any stocks-- for fear of having my lunch eaten for me by the bulls.

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.

Comments:
Broker-

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.

Pat
 
agreed on VLO - dippage calls for a reload - in a nice trading range upward ... good reco ... 3% dippage buy !
 
I know you thought that BIDU is a bust, but does it have any upside potential?
 
BIDU can go higher. But, my pricipals tell me it is heading back to $100.

Any dip on VLO is woth a look.
 
I'm short 100%, but I'm only 70% confident. Theres far too many bulls out there.
 
You are also 100% crazy and 70% on your way to the po' house.

However, I do admire your tenacity and contrarian ways.
 
Broker A, regarding NGAS, don't be a fucktard. 80% of the country is freezing right now. Don't tell me these fools won't turn on the heat.
 
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