Seeing today's Nasdaq action: steady rise until noon, interrupted by a decline from 12 to 3:30, then a little rise in the last half hour. Using Ney's Theory, MMs used the whole noon decline to accumlate, and likely to rise again tomorrow indicated by the last hour pike.
Today Jan 29 and yesterday Jan 28's volume was really high, exceeding 700M on both big board and Nasdaq. Does it mean that specialists are conducting a fake rally to add further to their short position, and getting ready for a nose dive? It would be unreasonable for them to conduct a real rally at these price level.
By the way I missed my New High assumption in January by 300 points, darn it! I hate to be wrong. :)
Anyhow, my portfolio is steady. Starbucks SBUX just announced 34% rise in Jan revenue and 7% better same store sales (5% is average). I am planning on adding YURI which makes Asychoronous Transfer Mode networks (it went down 3 bucks on the last two up days in the market). Its industry is getting red hot and will soon replace the old ethernet backbone. And a British ADR company called Eidos (EIDSY). It made two popular game titles Tomb Raider 1 and 2, and have the exclusive rights to release Final Fantasy 7 on PC (FF7 was bestseller on Sony Playstation, and FF 1-6 was very popular on Nintendo. Nintendo got VERY PISSED when Squaresoft, FF7's developer, decided to let Playstation to sell FF7 and denied Nintendo for licensing the game) As a gamer myself, I can tell you that their games are first class.
How was the Globalstar launch? Pretty cool, uh?
Ben |
