Sunday, June 07, 2009

Working Longs (should leadership still paint positive)


While the market itself reversed lower on the perceived-positive news, in the end leadership stocks did not act badly on Friday. I'm market-neutral, or even a little net-short going into the new week (shift from Friday), but I'm not against getting right back long if action tomorrow is compelling or positive.

That could work several ways. Example, if the general market direction is further-negative, and yet leadership stocks are behaving well, I'll hold onto hedges while adding-back to longs at the same time. If both general direction and action in leadership is alive and snorting, then I'll let go of short-hedges simultaneous to adding-back long. Yet if both leadership and the general market are accelerating negative, I may add to the hedge while adding, holding, or unloading leadership, depending how severe the internals dictate.

If of these these happen, I'll make it up, deal with it then and convey via Twitter. Get to bed.

Here then is the updated working-list of leadership-longs for the early-week:

Internet-Content [group is extended; would be interesting near-term on a hard slice lower]:
CYOU
SNDA
NTES
PWRD
SOHU

Internet-Network Solutions:
ASIA
FFIV
RAX
FFIV
DRIV

Computer-Data Storage:
PAR
TDC
STX
NTAP (enter above 20; possibly lower, but depending)

Semiconductor Mfg:
TQNT
MPWR
ADI
CREE
TSRA (extended)
STEC (extended)
VLTR
FCS
AMCC
RFMD
CY
SPIL
BRCM
OVTI
ONNN
PMCS

Computer-Security Sftwr:
ARST (remaining group slipping rank-wise lately)

Telecom-Wireless Equip:
STAR
RIMM

Telecom-Fiber Optics:
FNSR (pennystock; enter above .74)
JDSU

Retail-Whlsle-Computer/Cell:

IM
TECD (extended)
SNX (extended; may need to build handle)

Oil & Gas-Machinery-Equip:
DRQ
WFT
CAM
FTI
DRC

Metal Ores-Gold/Silver:
GOLD
IAG
AU
SLW
LIHR
GG

Computer Networking (group slipping in RS):
COMS
BBOX (thin)
RVBD

Other Groups showing increased RS rank (not able to compile individual names of these tonight):
-
Metal Ores
-Oil&Gas - Field Svcs
-Oil & Gas - US Exploration
-Oil & Gas - Canadian Exploration -Leisure Svcs -Energy - Other
-Retail/Whlsle Food

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