Friday, October 26, 2007

Pre Market Brief

Great earnings from MSFT and a positive outlook from CFC this morning have send the futures racing skyward. I expect a strong rally today and continuing into next week. I think the bears have had their chance to cover. Any attempts to bring the market down will only in further rate cut rumors sending the market upward. Microsoft is up over 12% in premarket and Countrywide is up over 21%.

I started building a position in NIHD yesterday below $55. Keep an eye on this one. There is still plenty of growth ahead.

Got into BOOM prior to earnings. Earning growth continues to be solid and I will continue adding.

I think financials are poised to rally today particularly the mortgage lenders on the back of CFC solid outlook. Brokers are alos a good place on the back of IBKR blowout earnings. Have been long IBKR since the IPO at $30. Added as it went lower.

I expect a very bullish trading session.

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