Friday, January 11, 2008

Cow Pie Quick Note

Today's action is very bullish. The Dow is down 200 points at this writing, but market breadth is only marginally negative (relatively speaking), new 52-week lows are declining dramatically and growth leadership is very firm on the tape.

The Ag and Farm group is fire-hot, following an exceptionally bullish crop report today.

I'm in there already with (increased) TNH, CZZ, SYT, CVI, LNN, but now I've added to SYT (53.04) and I'm buying new Ag-IPO-breakout TITN (ave.15.72). TITN is very thin, but it is breaking to new highs on >4x's normal volume already. I'm keeping the size small for now, but it could be explosive (big earnings reported there this morning).

[Edit: Today's powerful Aggie/IPO breakout name TITN has an exceptionally high up/down volume ratio at 5.4 to 1]

SYT, meanwhile, is a leader in that group and it has pulled back with the Swiss market the last couple of days. This report is igniting everything Ag, however; this one could potentially reverse higher before the day is out; it is safely above the open-price and is doing big volume.

Oh, I also bot back the full amount of CPHD (31.07 ave.); this is staying up on the day with enormous volume and the Dow is down a million - no reason to get shy with this today.

Current Longs (by size): GENZ, LNN, APOL, TNH, OII, HOLX, CVI, MR, VIVO, CPHD, JASO, CAF, SYT, YGE, IRIS, GHXD, TISI, CSIQ, TITN, CZZ

No comments: