Wednesday, January 09, 2008

Disco Inferno

Who doubted we would reverse higher on major, rising volume today - raise your chicken claw.

I added back, crazy and mad, but not as insane as I am capable (no mammoth day trades of GOOG or long the NDX).

Bot today on the reversal: RIMM (ave 96.95); HOLX (which presents at the JP Morgan conference at 4:30 pm est; a few minutes from now...ave.68.18); VIVO (ave. 34.01); IRIS (21.48); YGE (32.98).

Solars made a great comeback, led by leaders FSLR and JASO (FSLR reversed off of that 50-day m.a. level ~219 and reversed on heavy volume. JASO left a huge tail, but didn't managed to reverse.

Fertilizers made less of a comeback, digesting earnings from leader MOS, but TNH left an enormous, bullish tail, reversing higher on rising volume and SYT has no sellers (rising, major volume there).

Tomorrow may have some rate action in store, or at least some clear Fed jawboning; Bernanke speaks publicly at 1 pm est.

Current Portfolio (by size): GENZ, RIMM, OII, HOLX, CVI, JASO, VIVO, SYT, YGE, CAF, TNH, CSIQ

Fine, the total pressure may not be off; some amount of retest (or worse) may reel in the new upside in relatively short fashion - but I'm not convinced (this portfolio is live and healthy on the charts). Anyway, I'm loaded for the moment; I'll lighten on strength beginning tomorrow (RIMM is a quick trade for instance) and I'll cut more if we show ugly again. Bring on the Ben.

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