Wednesday, December 20, 2006
Closing Comments
Another lackluster day for the markets, as all major indices drifted lower-- on light volume.
After the close, it appears JBL and PMCS missed numbers. I sense many "traders" are attempting to time the top again and feel the market is ripe to roll over. I would caution anyone who has this in mind, and suggest to keep a very short leash on open short positions.
There is nothing that tells me the market is running "out of steam." Furthermore, as a bull, I believe any minor dip should be met with loud, obnoxious buy orders to his servant/trader.
Speaking of servants. I have no idea what to buy him for Christmas. Should I buy him a traditional black and white butlers uniform, to replace his dreadful Jos. A. Bank casual wear?
Or, maybe I should buy him a fucking hearing aid-- so that he responds to my buy orders with greater alacrity? Got that trader?
Good.
As for today's trading:
I was impressed with the action in tech, especially Internet and Networking stocks. However, I am afraid some of the more speculative names, like MAMA, are getting ahead of themselves and may poleax the top tickers-- sometime very soon.
All in all, it was a good consolidation day. I was pleased with the action in MVIS and HANS. And, I am excited that VLO dropped more than a buck. I feel the sellers in that name are making a mistake. I will be buying more VLO.
Finally, I feel the Software sector needs to be bought. Within that group, I like ADBE, CTSH, KNXA, SNPS, SYMC and BMC.
After the close, it appears JBL and PMCS missed numbers. I sense many "traders" are attempting to time the top again and feel the market is ripe to roll over. I would caution anyone who has this in mind, and suggest to keep a very short leash on open short positions.
There is nothing that tells me the market is running "out of steam." Furthermore, as a bull, I believe any minor dip should be met with loud, obnoxious buy orders to his servant/trader.
Speaking of servants. I have no idea what to buy him for Christmas. Should I buy him a traditional black and white butlers uniform, to replace his dreadful Jos. A. Bank casual wear?
Or, maybe I should buy him a fucking hearing aid-- so that he responds to my buy orders with greater alacrity? Got that trader?
Good.
As for today's trading:
I was impressed with the action in tech, especially Internet and Networking stocks. However, I am afraid some of the more speculative names, like MAMA, are getting ahead of themselves and may poleax the top tickers-- sometime very soon.
All in all, it was a good consolidation day. I was pleased with the action in MVIS and HANS. And, I am excited that VLO dropped more than a buck. I feel the sellers in that name are making a mistake. I will be buying more VLO.
Finally, I feel the Software sector needs to be bought. Within that group, I like ADBE, CTSH, KNXA, SNPS, SYMC and BMC.
Comments:
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I own both VLO and MVIS, but you are just way too gung-ho on tech! Everybody and his grandmother is already on the bullish wagon. I'd be taking profits.
Besides that, great blog. I really appreciate the time and effort.
Besides that, great blog. I really appreciate the time and effort.
# posted by 
: 5:35 PM
: 5:35 PM
"Everybody and his grandmother is already on the bullish wagon."
Not true.
Read this for proof.
http://www.redherring.com/Article.aspx?a=20238&hed=Is+2007+the+Year+of+Tech%3F§or=Capital&subsector=PublicMarkets
Paul Wick, manager of Seligmans Comm A fund:
Q: Are small investors getting reacquainted with the technology sector?
PW: Individual investors and retail stockbrokers are continuing to yank money out of technology investments. We can vouch for that. From 2001 to this year we’ve had $400 million to $700 million in net redemptions every year out of our flagship tech fund, the Communications and Information Fund. It’s actually started to get better, but those are big numbers. A lot of our competitors have had worse redemptions as a percentage of their assets on an annual basis. Think of it as someone on a treadmill running really, really hard to stay in place. That’s where we are with our technology mutual fund.
Q: So individual investors aren’t yet coming back to technology?
PW: They haven’t yet. Maybe next year. 2002 was a horrible year for technology mutual funds. If 2007 is a decent year or even a flat year, the five-year numbers for technology sector funds will improve significantly. Retail investors are rear-view mirror investors. And their stockbrokers aren’t any better.
Not true.
Read this for proof.
http://www.redherring.com/Article.aspx?a=20238&hed=Is+2007+the+Year+of+Tech%3F§or=Capital&subsector=PublicMarkets
Paul Wick, manager of Seligmans Comm A fund:
Q: Are small investors getting reacquainted with the technology sector?
PW: Individual investors and retail stockbrokers are continuing to yank money out of technology investments. We can vouch for that. From 2001 to this year we’ve had $400 million to $700 million in net redemptions every year out of our flagship tech fund, the Communications and Information Fund. It’s actually started to get better, but those are big numbers. A lot of our competitors have had worse redemptions as a percentage of their assets on an annual basis. Think of it as someone on a treadmill running really, really hard to stay in place. That’s where we are with our technology mutual fund.
Q: So individual investors aren’t yet coming back to technology?
PW: They haven’t yet. Maybe next year. 2002 was a horrible year for technology mutual funds. If 2007 is a decent year or even a flat year, the five-year numbers for technology sector funds will improve significantly. Retail investors are rear-view mirror investors. And their stockbrokers aren’t any better.
How can trannies and industrial commodities rolling over pretty fast be bullish?
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# posted by : 10:43 AM
: 10:43 AM << Home
