Friday, December 07, 2007

For Deposit Only

Leadership stocks are singing 45 minutes into the market here today, but I'm taking some off the table as volume on these moves is very strangely absent. I think we have a lack of sellers today more than any real buying.

Anyway, still bullish, but no reason not to take some off so I can reload appropriately later.

Out all FWLT 163.70 (no volume on brkout); Cut ONXX (56.50 and 57.50!); Cut JASO (58.50 and 61.25!); Cut YGE on B-of-AM upgrade (31.12! ave.); Cut new half of HOLX 64.18;

Huge move in some of those names, so I'm not complaining...just draining.

[Cut = trimmed here, FYI - Out = all gone for now]

Still holding ANF, GILD, GENZ, LOGI, MICC, MR, TNH and reduced HOLX, JASO, ONXX and YGE, so it's not like I've gone lawn bowling.

[Edit: Now out of 40% of MR at 40.38 ave. a little more than an hour into session]

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