Thursday, August 02, 2007


The Bulls took control the last hour of trading running the market up triple digits on the Dow.
The housing sector was by far the best performer while oil and semis were the only down sectors. Among industry groups, construction and home builders led the way while paper and coal were the laggards. Among individual stocks PHRM CKFR APKT MORN CUB PLX were the biggest gainers while AHHA GYI POZN LEND LQDT SXCI were the biggest decliners.

Speaking of opportunity , anyone who bought AHM at $1 or so on Tuesday afternoon could have made a 400% profit today as the stock at one staged spiked to $4.60. AHM is a mortgage lender that declined due to concerns of possible bankruptcy due to liquidity issues.

The stock market is safe for now as two thirds of Americans see a recession ahead. Markets like to climb a wall of worry. The fact so many Americans are pessimistic is a sign that the market will go much higher. Tops occur during times of 'irrational exhuberence' to borrow a Greenspan quote.


Anonymous said...

You change your tune everyday.

TheCapitalGame said...

I do whatever it takes to make money. If it means changing my tune than so be it. Why stand your ground if it means losing money ?