SIRF was upgraded by lehman brothers... to BUY. Its trading at 25. Mona upgraded it to STRONGEST BUY at 16. And recommended to sell at 24. See how safe we are. Never mind, I am glad the analysts finally noticed a great winner- the chips that go into the GPS device have got to win when the GPS device maker is makin 52 week highs... (GRMN)... Besides SIRF makes chips that also go into cell phones... so thats a double win I would say. Does not help chasing a stock thats already made good money for me. Just improves my confidence in being ahead of the market. SIRF soars to 30 from 25... but I will not chase it here.
Citi earnings were a non event. Breathing a sigh of relief that the stock did not tank ... Obviously the financials are done going down. LEH is my pick- at 63. Will be patient with this one.
And just for a risky momentum trade- am buying YGE- a solar stock -thats undervalued if the YAHOO finance numbers are right. (I am skeptical) Yahoo finance says its got a forward P.E. of 6? Ouch... that hurts when FSLR is trading at P.E. of more than a 100... ! YGE is trading at 32... and going down right now- against the rules am buying a stock as it goes down. In at 31.7. Downside is 25- if all goes well. But upside - well... lets just say 45... if the market continues to love solar.
Awaiting YHOO earnings tomorrow. If that does not make this market pullback... there will be more worries as more earnings unfold. Lets re-assess tomorrow. Meanwhile... happy trading... theres no better time than now to make a trade and some money with mona on your side...
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