Monday, January 07, 2008

Putting on My Rubber Woot Suit

Having fun yet?

The stock carousel rotates faster and significant shares fly off the handle as the Street pukes up its own children. Bids disappear and monster stocks like TNH suddenly come into dreamy buy ranges in furious flush fashion. The question now is if we'll see a rush higher follow suit, or whether we're just gasping for breath in the eye of this storm and further expulsion from stock paradise is near near near.

I wish there was less of a broken world out there, I would have really bot aggressive this morning. As it is, I added a little, but mostly I just held on to my own and watched the sucking sounds turn green while white lights of my portfolio started bridging light beams into my stubborn forehead. If we flush still-lower levels today, I have to start dumping everything. As it is, I like the look of this (who wouldn't!) and I am hopeful we are ready to launch these good looking stocks higher.

I'm too old to risk it all in a broken tape. I'll scale in going higher from here and seriously, I'll blow the whole list out if we can't stabilize here. So far so good.

I managed to sell out of MICC on the up open, but I should have also sold both FWLT and JASO. When we started south, I tried selling those two, but I didn't give aggressive enough prices and they sliced right through reasonable floorboards, and I was left to see i they would be breathing by about now (usually dramatic slices in a bullish stock are buying opps; at least the first of these). Both are reasonable again, at moment, but both will be culled-out if we re-tank later today.

Why sell JASO? I still like that name and I still like that group, right? Well yes, but management there (in the brilliant wisdom of focusing on their stock instead of their business) has decided splitting a $70 stock 3-1 is a good idea. Amateurs! This was announced before the open today and I can only hope institutions aren't going to hold this against them. I know I am.

I added TNH (ave. 140.50) and SYT (54.05) today. That gives me more of this AG/Fertilizer exposure. I'm literally standing in cow pies now, and it smells like roses still.

Other names from the previous list remain almost entirely in tact and live live live. Small is where it is at today. IRIS, ICLR, CPHD, HWAY are a few of the stronger on tape at moment; and breaking out in some cases; and are all smaller-cap growth.

I'm not in the perfect mix at moment, but I'm not getting hit today ether. If we are indeed stabilizing I can blow out anything not performing as the market rises, while adding new, stronger names from my live-list from the previous entry. I will update this list as well, I have several new to add already.

I'm pulling rubber bands over harpoon sticks - waiting for the overall tape to give me the green light. Still waiting for the Fed as well, which may not come until Bernanke opens his thoughts live in a speech coming Thursday. Faster faster Bernie pussy cat - kill kill...

Ben will do the right thing. Ben is a company man and his ear is sore right now.

Position at moment (according to size): TNH, ONXX, FWLT, GENZ, HOLX, JASO, LNN, SYT, AIR, YGE, CAF

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