To better answer, Cap. . . I was up and studying well before I heard the roosters crowing. But am just now getting back from several meetings. . .
As I said around Memorial day, I would be mostly out during the summer and would not be trading as actively as before.
Today was nice for some of our favorites. Remember when HLIT turned around at 80 on Thursday? We jumped in about 83. . .it is now 94. [From our Outpacers list]
ATHM, MMPT and ADFC all doing exceptionally well. Remember the tiny caps and the sleepers will not necessarily wake until much later. . .but the leaders take off like crazy. CMGI, DCLK, CNET, etc.
Sold final positions in gold this morning between meetings. This rally is getting some legs. . .volume on high techs is better than I would have thought. Picked up some PRFM on the swing trade into IPO. Grabbed more LQID on breakout. . .remember, I think MMPT, ATHM, ADAP and LQID will all breakout soon and in my opinion. All three should outpace the rest of the pack. . . I see all four of them close to doubling or more over the next 6-8 months.
Support building for TUNE. . . way undervalued, based on future earnings, IMO. Loads of shorts yet to cover. . .might getting interesting very soon on this one. Not ANYTHING like the orginal run, but could pop for 5 or 6 points near term.
Not up on today's daytrading, due to being away from home all day. I am also holding off somewhat on daytrading, until I get my newer equipment and we are in our new location, where communication is immediate and info is timely.
Kevin, you were sure right about WMB. Great choice for swing/position on their upcoming IPO of the communications division. Fibre optics lines run through their existing gas lines. . . how clever. We followed this one closely when it was in the low thirties. Slow mover, generally. . . but once it gets going in a direction, it moves pretty well for such a high float.
I sense some vacationers are arriving home early. Feeling like that theory of a possible 'sell-off regardless of the outcome' may have more merit than we first thought possible. . . this is worthy of further investigation and discussion. If so, we would be selling some short term positions here.
We are at record highs. . . do we correct on no hike?
We will probably stay neutral and we will get the hike [or the other way around. . . no hike but with a tightening bias]. . .
But though traditionally no hike causes rally, I think this time it will cause correction. . and traditionally a hike should cause a correction, but I think this time it will result in a rally. . . .
In a way, markets have COUNTER-ANTICIPATED the FMOC meeting. We WANT a hike to take away the worry of a hike. And the run up ahead of the meeting seems to indicate a confidence that we will indeed get the hike. So the next question is, have we OVER-ANTICPATED?
Which way do we head tomorrow afternoon? And why?
As always, I welcome all thoughts and views; whether or not they agree with me.
Rande Is |
