Wednesday, December 26, 2007

Obscene Serene

You have to like the action on the market's pullback thus far today.

After Monday's pre-holiday, low-volume up-shot, which quietly strode my position into realms somewhere above general and common decency, the portfolio here is still climbing (so far) today; even as the market succumbs to a bit of low-volume profit taking.

There is nothing overly concerning about today's market action.

I've succumbed a bit to post-xmas trimmings myself. I'm slathering goose flesh and jellyfish jam on leftover toast this morning while cutting back some of my more extended names in the portfolio.

I sold the remaining CSIQ (30.58) and I cut 40% of JASO (76.49).

I'm looking to unload nearly all of the rest of my position by Monday (31st) and I will short a couple of the more obscene '07 market winners sometime late Monday; for the inevitable profit-taking which hits this type of stock in the beginning of a new year. I'm expecting decent January action in the market overall, however, but I will hold an Missourian stance on the new year until I see the strength first...just in case. Also, it is wise to determine where the new group-strength and general trends lie before placing fresh-year bets.

For now though, I remain heavy-handed and I hope to hold most of this weight as long as possible. I'm also willing to trade into something new, if compelling, as this seasonal-strength week progresses (recognizing that breakouts may not be of the high-volume affair - which is ok considering the holiday nature, as long as breakout levels are sustained).

Christmas only comes 6 or 8 trading days a year - hope you were on that trade ;)

Current position, by order of size: GOOG, AAPL, ANSS, ONXX, MR, JASO, LOGI, SLT, FWLT, CAF, TNH, YGE, GENZ, PWRD.

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