Thursday, December 20, 2007

(Very) Lightly Salted

The song remains the same today. I'm still chirping long and overall happy with our progress into the year-end seasonal happy-slush. My skates (stocks) are razor sharp.

I'm not complaining either (ha!). I am adjusting here and there and I am not seeing very many new free-and-clear breakouts on explosive volume (roaring-bull stuff), but many names are nicely poised to give their glass ceilings a run for their money and leadership stocks remian quite svelte.

New (not pathetically-thin) breakouts include BYI (earnings today), BCR and LNN. LNN is a tiny-cap (good time/yr for these), in a strong sector (ag-systems!) and they just destroyed eps estimates today (1 analyst?). It is a little too far above the breakout, percentage-wise, to chase right here and now, but I am looking for the first possible entry there; if it gets away I can't do much in the near-term, but I'm on the job. Keeping an aggie-eye on that one.

A few poised-and-ready patterns at moment include ORCL, HOLX, GENZ, YGE, TNH, ADSK, SMSC and HWAY; any of these look worthy of a play if they can break through the above highs on significant volume.

I haven't done much since yesterday's writing. I added onto JASO and YGE yesterday, only to see one of the more suspect plays in the Chinese-solar group, LDK, spoil the party with muddy-water earnings posted after the close. The lights were off for only about a minute, however, as JASO and YGE don't seem to give a rat's behind (ass!) about LDK's full woe of woeful. We saw this when TSL blew-up a few weeks ago, so last night I just sat on my hands and prayed to the Seasonal Jesus.

The down days are good days to gauge a stock's strength. LDK is showing significant selling pressure today, affecting the group (and should be avoided). JASO, which was a little extended on the upside coming into the day (therefore eligible for getting hit), looks more like a bar of soap under water. It is not down all that much and volume is light (indeed neither JASO nor YGE took out yesterday's low levels so far today) - once this pressure is off, I expect the soap-bar path of least resistance will re-pressure this stock (considerably) higher into the year end.

Santy said so.

I did unload MICC early today and possibly prematurely. Mostly becuse it quickly reversed down when the techs were still quite strong and it has been struggling to get back above the 50-day m.a. (currently at ~109). I don't need 15 names (for hell's sake) and I can use some room for new breakouts; so I am looking for any roach-in-the-room reason to sell or cut any ill-acting names.

Other longs here on the potential quick-chop block at the moment include SLT and PWRD. I need both of these to get above their 50-day's; slightly over head at moment.

Here is the mush-pond as my accounts stand at present (by order of size):

RIMM reports tonight. Crap-shoot city baby! position here, but I'll heat up a nakki, crack open a bottle of ginseng rattle snake cooler and watch the fun.

Good trading Friend-0!

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