WHEW... the relief at last

Was still sighing all day the relief thats written all over the markets.
Yesterday I took BID off the table. Recommended it at 42- hit 48 yesterday- 6 bucks per share in 2 days is good for me. The crystal ball is doing good for stock picking and I hope it continues.

Housing stocks rallied as Fed lowered rates. Bodes well as with lower rates mortgages will get cheaper. But we were ahead of the market so having bought DHI at 13.60 I thought it would be good to sell at 16.5 and raise cash.

Also gold rallied as anticipated. Its at 735 -looks strong. But a pull back can be expected. So am selling my AUY and NEM -we got in at 11 and 43...selling at 13 and 48...!

The DOW and S&P and NASDAQ rallied a bit too much the day of the rate cut. So, I expect some back and forth movement- best environment for trading again. But since the sentiment and perception of the economy is better now, BERNY on our side, dont expect triple digit moves any time soon. So I would watch individual stocks that are breaking out or see-sawing enought to get a trade.

I am watching TSL- the solar stock closely- nearing 50... its 49.5. If it goes over 50 I think the trading range changes- but will watch the move before I pull the trigger.

AKAM the streaming video player- which has been crushed beyond limits in my opinion is still struggling in the low 30s. With a little longer time horizon I am buying AKAM today at 30.9. Once it moves it will be furious.

Have never looked at ETFC- before- symbol for ETRADE financial- the online trading company looks good to me at 14 considering the market picks up and its valuation looks good to me with a forward P.E. under 10.

OVTI- is a semiconductor camera sensor maker- for phones... have menioned it before - looks like ready to break out if technology behaves itself. This one is cheap and the earnings are growing nicely with upside guidance by the company. Am watching it.

As the market digests the good news of the rate cut and before it figures out the good news came about as there was some bad news- (fear of recession) in the FED's mind.... we were in and out and have some cash now. Wait and watch .... stay tuned... for the next big move.