I smell a strong Rally coming. Stocks have been taking to the cleaners the past few days. Momentum stocks are being targeted in a 'seek and destroy' operation. CROX VDSI ALGN NIHD BCSI UA AMZN FTK LVS are some of the names that have been run over the last few weeks.
NTES BOOM LLNW INAP are some of my holdings that have something going today. Sort of. Everything else is being taken to the cleaners.
I am buying some CROX ( $42.35) here as a trade and a gamble. Maybe we will get some lucky bounce to $50. Either way its a pure gamble on an oversold stock.
I though November was a month that was always bullish. So far its been more bearish that September. This subprime nonsense is killing the market. I think things are not as bad as people are making it to be. Seems to be an overreaction. Then again, things could continue to get worse.
I should really stay put and see how things play out but I want to make money and I think staying long is the smartest choice of action vs getting short and seeing a huge short covering rally. I still believe 15000 is on the cards for the Dow by year end. There is too much negative opinion in the air. All this negativity means there are a lot of short players out there who could fuel a rally. I want to see a strong bounce in financials.
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