Friday, January 04, 2008

Standing Small

Okay, the market's frying an egg on my head at the moment...but I've got more outs than MacGyver on a Saturday night.

Jobs growth? Strong economy? Hell, I can't remember when. And lower rates ahead are now a further given. We'll see how this develops. In the end, I take my cues from the market, not from fried eggs in my head...I will respond accordingly; whether I like it or not.

Fortunately I unloaded 2 out of 3 dogs late yesterday (COH and C), basically due to the weak last hour and this here big jobs report on the docket. At the immediate-open today, I unloaded the 3rd (SBUX, 18.45). So I am stinging slightly, but I am holding nothing but nets and strong names at the moment. My overall position now is not heavy.

I'm a little nervous about FWLT, since it is my heaviest regard and it may actually need a decent economy to keep higher. Neo-drug makers ONXX and GENZ, however, really shouldn't mind such noise. As far as the solars...we'll have to watch and respond.

Identify - Predict -Decide - Execute. That's what we learned in driving school. Put a big rig in my hands and throw the throttle. I'm ready for this. I'll get short in an Andy Griffith minute if I am forced...

[Edit: I did trim back the newer FWLT shares at 167 on a bounce. ONXX is back to my largest holding at the moment] [Currently long ONXX, MICC, FWLT, GENZ, JASO, YGE, CAF - ranked by size]

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