Bulls stampede success is what I call it. Also the bears covering their shorts helped carry the rally to a mind boggling best in 5 year point gain for the DOW. Up triple digit -3 times... 330 somethin. We had a good day, to say the least. My fantasy of a triple digit for the Nasdaq did not quite materialize but I was more than happy with a 80+ gain on it. S&P crossed 1450 once more- sufficeth to lead us to more gains in the comin weeks as technicals look better. And the bottom sure looks like its far away and conquered.
May I not get carried away to much by the bullish moves. I would rather carefully calibrate the next few trades to preserve the money we made and make more in the next trade. Am watching for now and happy with my current positions in BRCM, NTAP, GLW, VCLK, INFY for technology. The high fliers - AAPL, RIMM and GOOG certainly were good trades but in mona's market we are wary of double digit losses that can tempt us to take losses and miss the subsequent bull run if it occurs. We are content as you may have observed to buy fundamentally good companies that have been beat down- we identify the trading range in such stocks and buy at the lower end and sell at the higher end.
Forgot to mention Freddie Mac and Fannie Mae that have been beaten down to pulp -too fast. I am placing an order to buy a small position in - FRE at 29 and FNM at 31 a bit below where they are trading now. Washington Mutual - at 17.5- is another addition. Risky only because of the crushed sentiment. But overall if the FED chairman, Berny behaves himself this evening when he `speaks' again (tis an overkill these days...hearing him speak) - financials and housing stocks have got to bounce back to respectable levels.
Bears beware, the bulls will take us to new heights if I can believe that, you got to, too! Grunt! Grunt!
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