All: I like the strength towards the end of today's market. I was worried about some renewed "profit" taking and the end of today's session. After many days of significant volume and volatility, the golden hour of the last trading day can speak volumes (no pun intended) about the limits and fear of the traders and investors in the market.
The increasing global concerns are not going to help and China is looming ever larger now, taking attention away from Brazil. But we as traders and investors have a hunger for what once flew. We will not accept these new valuations of the Inets and will bid them quickly back up to old values.....unless we get another good shock. Each blow is another threat to the bubble that WILL end at some point. Until then, I am banking on further strength and see this as a healthy pull back to create some "values" out there.
If you are going to play the Inets, stick with the first tiers or the story stocks. My three favorite right now would have to be NAVR, ONSL, and IMON. IMON is still an unfolding story and I would be buying pullbacks now under 5 or so. The 4 that we saw recently after the run was a great opportunity that I hope many took advantage of. Find the story that has not been concluded yet, that is what you want. NINE is a perfect example of what you may not want at this time, a news based run with no follow up site. IMON on the other hand still has many elements left before a conclusion will be reached. It does not mean that it is going to be the next high flyer, but when this new support is found, I think it could see the teens on good news.
Be careful out there, we are still on the bubble and when it bursts, no Inets will be safe. Until then, volume and volatility will reign.
Good luck
TJ |
