Steve, I generally agree...
There are no circuit breakers on the Nasdaq. Margin calls may not be done, but I think the washout at noon may have prompted a lot of forced selling and dropped some of the weak hands. I threw one in the collection plate myself and puked up EMLX (which later recovered, duh. But it is good for the trading soul sometimes.)
I wish I was astute as LT and could call these precise moments of a market turn (ha!), but clearly I'm not as gifted. He has been calling for a CRASH since '98, so I hope he benefited today. But I simply must believe that we are roundabout a bottom in the COMPX.
In addition to your greens, I show CREE, AHAA, DIGL, EXDS, QCOM, and ADIC. I have made more money on ADIC than probably than any other stock last year. Its in the storage products business and is one of the highest rated IBD stocks -- it has earnings which is now de rigour among security pimps. I'm not touting but I like the storage sector. I have a position in NTAP too, soo now maybe its time to look at EMC which was one of our favorites last year. |
