Friday, January 26, 2007
Fly Buy: SVG
I bought 1,500 SVG @ $9.23.
Disclaimer: If you buy SVG because of this post, someone will "key" your new Rolls Royce. And, you may lose money.
Disclaimer: If you buy SVG because of this post, someone will "key" your new Rolls Royce. And, you may lose money.
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The market does seem little weak. The dip buyers are not as aggressive as they have been before or can't seem to get the momemtum going. It's like watching a prison movie where a gang leader withdraws protection for a guy and he is a sitting duck. Maybe the plunge team pulled their protection for the mkt for now. Nevertheless, I still like the mkt, don't think this is a start of a bear mkt. Load up on retailers for next month. And who the hell is selling AMGN at 16X p/e?
The PPT usually operates only in a crisis such as Oct. 1987 crash, Long Term Capital failure, or the 1998 Asian Contagian. What may happen to bring the markets down is the carry trade no longer working with the Hedge Funds. The derivatives market has exploded and could be the downfall some day. Need to watch the emerging markets and if they start to unravel then you know liquidity is drying up and it would be time to head for the hills IMO.
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