Believe it or not, Santa visited us last week- did he get his timing wrong? Santa Claus rally is meant to be between December 26 and 31. But he too decided to do it early. To my mind a rally from 13100 to 13600 + is a respectable santa rally. Lets not be too greedy. But S&P at 1496 seems to be ready to break out above 1500 so may as well be greedy. I will hang in there till the rally. Sell some of my winners. INFY from 40 to 46 made some money- am sellin half my position. YGE my sole solar play that had a roller coaster from 31 to 39 - all the way back to 26 or so... is now at 40. Having held through the ride- am selling half my position at 40. Though the chances of it going to 50 before 30 are more- technically and sentimentally- fundamentally, well solar defies that for now, so am not lookin at the earnings for now. JWN- am sellin from 34 to 37... not much but in the retail volatility I will take 3 bucks any day. Switching to COH at 31- makes sense- Buying a beaten down stock and waiting for it to rise is a good trading idea.
Financials- Citi and Bank of America holding on as they have not moved much- from our price of 31 and 41. Am thinking of adding Mer. Lynch... with the foreign infusion- a price of 53 looks good to me. Forgot to mention, during my absence WM- got stop lossed at 17. Its languishing and am not going to buy it back. I prefer Citi and BAC to be safer. FRE will start its recovery this week- maybe we get 35 and hope for more as we are in at 31.
RETAIL- am afraid things are not working out. TGT says sales-a-slowin... uh oh. Long term I still like TGT- am in at 51 and am putting order in to buy at 45- which is a far cry but who knows- a slide in retail- may get us there. As I said above, COH at 31 looks good- all is discounted- brands like Coach will survive.
In global territory, INDIA zoomed ahead 600 points in a day ahead of Christmas... when Indians welcome Christmas more furiously than they do Diwali, trust me, the sentiment is bullish all the way. And have the tables turned... where the dow follows the sensexes and shangais of the world... then we are in for a green end to 2007!
MERRY CHRISTMAS... and THANKS for reading. Mona's aplogies for not bloggin every day- will be back with a blog-a-day next year. Meanwhile happy trading, dont miss out the last 4 days of trading- they tend to make a lot of money- following Santa's happy trail.
Stay tuned as my crystal ball looks for more... tips and thoughts to share with ya.
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