Well it was an enjoyable Halloween . Bernanke and company handed out candy to the bulls via a quarter point interest rate cut. Woohoo !! The market reacted with an initial dip which was great for me as I managed to buy a boatload of QLDs and SSOs on the cheap. See there was a reason for me cutting down a lot of positions the last few days. I wanted to take full advantage of today.
I believe tech stocks will continue to do well though I dumped FFIV at $36 today. Tired of playing with this stock. I will continue building up positions in AKAM LLNW INAP NTES OVTI and other tech names that are doing well. I think NTES may be the most undervalued play in China . Would not be surprised to see $40 by December 31st.
Speaking of tech, I also like SIRF. This stock was a steal at $16 a few months back. Too bad I did not take a position. I was planning on but brushed it off after reading their annual report. Thats why reading annual reports don't make much sense. Too much bullshit in there. Making money in stocks is all about price volume action.
And CROX finally took a beating today. At $57 I think CROX might be a decent buy. Trades at less than 22 times next years earnings. Pretty cheap for a stock growing this fast.
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