Thursday, August 23, 2007

YAWN...

The bull and the bear were playing TUG OF WAR... and we shall see who won. Maybe no one and the DOW ends on the flat line. Which is significant - my thinking is if the bears could not push it to volatile lows and there was no panic, the next move will be up - ! No harm in thinking that way.
TSL - you may wonder what happened to it. I said I was watching it. And had a intuitive buy on it. Earnings came out well and good. Margins will be under pressure was not new news. Was it sliced into half- no it survived a $5 pull back. Pull the trigger and buy for a great speculative move up from 41 to 50... Ha. No risk no reward so you got to watch the downside- !
I still like PTEN- the natural gas company that no one is buying as its hovering around its 52 week low. 21 is lovely for a good turnaround to 25 before the next hurricane shows it eye.
I am still watching this market with a keen eye. I stopped trading. I have 2 parts cash and 2 parts invested. All cash is not king in such testy times. You never want to miss the rallies that come after such fertile movements on the downside. I will sell the 2 parts invested when there is a confirmed solid triple digit rally- DOW 13600 or something which will happen before September ends. And if that aint happening I still have two parts cash to plunge into the market if it does dare visit the sub-13000 points on the DOW! Some knowledgeable on CNBC said you will get one more pull back to 12845 or some such number on the dow before it resumes the RALLY. So the bears freaked out and started hammering without much luck. Maybe the market has its eyes on 14400 - being the year end target for some. How on earth do they get these numbers. Lets wait and watch...and we get the answer.
To cut or not to cut is the daily million dollar question. Is a rate cut priced in already is the multi-million dollar question. YAWN...

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