Fly on WallStreet

With the holiday's around the corner, it is likely we will not see any big moves in the market-- for the remainder of the year. Most managers are content with their performance numbers and will probably play defense until next year.

We are seeing very negative action in commodity related stocks, specifically the Metals and Oil. I attribute that to year end profit taking/protecting returns. The Metals were the leading sector in 2006-- with monster gains in nearly every single stock in the group. At these levels, I do not like the sector and would avoid it.

Conversely, I feel the Oils are on sale now. Stocks like VLO, UPL and PTEN should be accumulated on this dip.

Aside from the commodities, the market is trading sideways-- as most money managers packed up their balls and are now investing like Saul Rosenberg from the Jerky Boys. Don't expect any big moves in the big names. However, low float stocks, like MAMA, may continue to be manipulated until year end. Be careful not to get suckered into any small cap momentum plays.

Finally, as per request, I will list my positions tonight and maybe throw a few predictions on the barbie.

NOTE: If you like the Jerky Boys, listen to this or this. Or, listen to Frank Rizzo offer his volunteer work. Funny stuff.

The following Metals stocks have no mojo:

FCX -4.9%
RTI -4.1%
PCU -3.9%
TIE -3.3%
ZEUS -2.8%