Thursday, November 08, 2007


Looks like we will be seeing another day of pain if you are bullish unless you are long FSLR . In that case life is good. More pain for HANS as a 3 cent earning miss ( 46c v 49c) has the stock down over 15% in pre market trading. CSCO is getting murdered in the pre market though I believe anything under $30 is a great long term buy. The problem in a market like this were liquidity is being ejected out the system is that stocks can fall by ridiculous amounts.

The plan today is to sell lesser positions while adding to core ones that have fallen. I think picking up HANS below $50 will be a steal. I did sell half my position a week ago at $62-66 and I am thinking of buying back here.

I don't really expect much from the market. It appears the bulls have run for the exits. The bears are in full control here. If we breach 13200 on the Dow look out below. Even though I believe there is a lot of bearishness out there and this should be bullish for the market added to the fact we are in November which is historically a bullish month. But the fact we have had 3 300+ point declines in the last 3 weeks tells me something is wrong. I don't think there is anything bad about going to cash and waiting this out.

No comments: