huge gap up today, while very nice, i would be surprised if we can hold it, 3000 is not going to get knocked down that easy, at some point we are going to get "sell on the news", this mornings gapper should "probably" be sold, on the other hand, there is a lot of money on the sideline, fed is easing, so when are the big boys going to just "buy"? maybe soon, i just dont think it will be today,
now for one of my favorite "buy on the dip" stocks on beaten down sector=dsl
efnt is typical dsl play off about 90% from its high, the difference is they have over $8 a share in cash, expected to earn .87 june fiscal year, growing to $2.49 in fiscal 01, exploding revenues, they make the dsl modem, great customer list, and one of the few dsl companies that hit their earnings last quarter, up big friday, i will be adding more of this one on any dips, could be $30+ very quickly, this is one of those that could "double" by end of january, my other "possible double" by end of january is mslv, my favorite plays right now are beaten down techs,with cash, growth, and hitting their earnings and giving good guidance, (like idti) not all that easy to find, but when you find one, hang on to it, you have to make money sooner or later
my sleeper stock is asia, leading internet in china, cash, making money, good growth, official wto status in china will be here soon giving the "china stocks" another big pop
just be carefull of "sell the news" effect sometime today |
