Monday, April 30, 2007

 

Sector Spotlight: Energy

With the DOW up 19 of the last 21 days, we are due for a pullback. Currently, "The Fly" feels his good fortune will soon get "machine gunned" by Mother Market. Until the bitch punches me in the nose, I will continue to kick old, weak men down empty elevator shafts, while stealing the wallets of nondescript short sellers.

Already, MVIS is knifing lower. Personally, I view a dip in MVIS as a buying opportunity. However, I do not enjoy seeing my positions being skinned alive, no matter how low my cost basis is. Just so you know, I will be attending a MVIS conference on Wednesday. Hence, I will update you internet leeches, late Wednesday.

So far, today, the Energy sector is thoroughly green. Stocks like DWSN, OMNI, TTES, PDRT and VLO are ripping higher. Nonetheless, I fucking hate the oils up here and would avoid them like the fucking black plague. However, it's worth noting, I have no intention of selling existing positions in the sector.

Finally, now is not the time to start speculating. Keep your stops in place and build up a cash position. I'll have you know, "The Fly" has built up a small cash horde. Immediately following a market dip, "The Fly" will throw hot slices of pizza at his trader/servant, in order to instruct him to buy the dips.

Comments:
Chip equipment makers -KLAC,AMAT,LRCX,etc. look poised to breakout.
 
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