Portfolio down 4.84%, Dow down 0.74%, Nasdaq down 3.41%, S&P500 down 1.04%, Gilder down 3.9%, Meisler down 4.2%, J-Blimps down 5.3%, Fuel cells/Alt Energy down 4.8%, Gorilla Hunters down 7.4%
NYSE Volume: 1.03 bln...Adv: 1461...Dec: 1494
Up Volume 442.35 Down Volume 540.46
Nasdaq Volume: 2.5 bln...Adv: 2102...Dec: 2044 so much for a light volume day
Up Volume 836.19 Down Volume 1498.76
Put/Call ratio 0.65 (Range 0.65 to 1.18) Neutral
Sector Watch
Breakout of the day
Airlines ($XAL) 168.95 +6.35 +3.91% Sector has been down so long that bottom fishers went after it.
Collapse of the day
Nasdaq 100 ($NDX) 2341.70 -122.92 -4.99% Ugly as the day went. Tax loss seller waited too long.
One stock
Blue Martini (BLUE) down 14.52%. Much hyped stock with losses nearly equal to revenue. Pulled back after running all week.
Portfolio Watch
PHA and FDRY only green.
Double digit losers were WFII, INKT, NETE, NTAP
Shopping List
KOPN (Cyberdisplay leader, re-entry around $10)
11/7 pos for day 2, 12% volume. At $11 Chart: Basing
BRCD (leader in fiber channel, 357% growth. PE of 652 at $260, re-entry $75)
At $91. 47/50 neg for day 3 14% vol. Chart: low volume
BreezeCOM (BRZE) (162% growth rate, Present PE 80 or so) Reports Q3 earnings of $0.11 a share, $0.02 better than the First Call consensus of $0.09; revenues rose 162.1% to $29.01 mln from a year-ago of $11.07 mln; re-entry $10)
Note: At $14, 2/2 blocks even for day 6. Volume is 8% Chart: short up trend
YHOO ( PE of 146, growth of 90%, re-entry at $28)
At $30, 19/22 neg for day 23 10% of total, Chart: basing
SFA (cable box leader, re-entry near lows with buying trend up, re-entry at $35)
At $32, 8/8 even for day 1, 20% volume, Chart: broke down, no good
SEBL ( leading CRM company coming down now, re-entry at $60)
At $67, 47/46 pos for day 1, 20% vol. Chart: triangle pattern from downtrend, no good.
EMC (leading SAN company)
At $66, Blocks 60/38 pos for day 3, Volume 37% Chart: 5 day base
DD (leading chemical company)
At $48, 13/4 pos for day 5, volume 33%, Chart: surge up
MSFT (leader with 26B in cash)
At $43. Chart: Small base, 128/104 block pos for day 5, 25% volume
Watch List things to watch but not trade
QQQ at $58, 371/234 neg for day 2 Volume is 59% (includes after hours). Chart: larger red volume, ugly
Summary
Bleeding red slowly all day. Nothing to do but watch. Portfolio lost 1% in the last 10 minutes. Will wrap up the year next. The Nasdaq was up roughly 80% last year and down 40% this year. The math shows only a 8% gain in two years.
Jack |
