Tide has turned
Regular readers of this blog know that I went up to the Bear mountain today. It took me more than 2 hours to get to the top (approximately 11,000 steps were needed) had an apple and a banana and came down (another 11,000 steps were used). Those of you who know me closely, know how much I used to excercise (basically none), now that I am fighting my cancer, certain things had to change (the last time I took 22,000 steps in 4 hour period - don't remember). Let's just say I am very proud of myself. It felt great.
I am going again this Saturday (market closed) at 6:30 am. What a life I have!
As the title indicates, tide has definately turned for the better. We will have our last (this is my opinion only) bull run before turning south again this summer. So, we need to squeez the last drop of gains before packing. Oil related stocks ( I have said many times you need some ) performed beautifully today. OIH (up 1.83%) and BJS (up 3.89%). By the way, Oil just hit a new high above $71/barrel. Q: Do you know how much oil was in 1998? Answer: $10/barrel. Basically Oil group will run higher until we get peace in the middle east (don't hold your breath).
Technology stocks will do very well in coming days. AAPL/SNDK/TRID/ISRG all want to go higher. When market goes up like today, any tech will do.
Many people are predicting $1,000 - $2,000 for gold. In the long run I agree. However, I believe gold has to take a rest before moving up. That's why I am short KRY. Eventhough gold hit a new 25 year today at $618/oz, KRY dropped 1% (good for me). Gold better turn back to $550 area (my expectation). You know where my $ is.
RICK: flirting with $6 everyday now - a good sign (read my previous RICK analysis)
BTYH: Yawn - no action yet (this one will surprise us one of these days)
MATK: moved up a few points the last 3 trading days - will move up in coming days
IDWD: this stock is not for the weak heart - $1.53 H / $0.91 L / $1.16 Close today ( that's over 50% move in one day - I am still holding - sold a little at $1.76 last week)
If anyone wants to know what I will be trading tomorrow (in & out same day) here's what:
International Game Tech (IGT): Short
Intercontinental Exchange (ICE): Short then Long
Apple (AAPL): Long
Avanex (AVNX):Long
I will let you know what happened.
P.S: You want an interesting stock to study? Look at Rambus (RMBS). Tell me what you think. I think this will tip down soon (PE ratio is 146).
I am going again this Saturday (market closed) at 6:30 am. What a life I have!
As the title indicates, tide has definately turned for the better. We will have our last (this is my opinion only) bull run before turning south again this summer. So, we need to squeez the last drop of gains before packing. Oil related stocks ( I have said many times you need some ) performed beautifully today. OIH (up 1.83%) and BJS (up 3.89%). By the way, Oil just hit a new high above $71/barrel. Q: Do you know how much oil was in 1998? Answer: $10/barrel. Basically Oil group will run higher until we get peace in the middle east (don't hold your breath).
Technology stocks will do very well in coming days. AAPL/SNDK/TRID/ISRG all want to go higher. When market goes up like today, any tech will do.
Many people are predicting $1,000 - $2,000 for gold. In the long run I agree. However, I believe gold has to take a rest before moving up. That's why I am short KRY. Eventhough gold hit a new 25 year today at $618/oz, KRY dropped 1% (good for me). Gold better turn back to $550 area (my expectation). You know where my $ is.
RICK: flirting with $6 everyday now - a good sign (read my previous RICK analysis)
BTYH: Yawn - no action yet (this one will surprise us one of these days)
MATK: moved up a few points the last 3 trading days - will move up in coming days
IDWD: this stock is not for the weak heart - $1.53 H / $0.91 L / $1.16 Close today ( that's over 50% move in one day - I am still holding - sold a little at $1.76 last week)
If anyone wants to know what I will be trading tomorrow (in & out same day) here's what:
International Game Tech (IGT): Short
Intercontinental Exchange (ICE): Short then Long
Apple (AAPL): Long
Avanex (AVNX):Long
I will let you know what happened.
P.S: You want an interesting stock to study? Look at Rambus (RMBS). Tell me what you think. I think this will tip down soon (PE ratio is 146).
posted by Jaewoo | 11:45 PM
7 Comments:
Jae:
Yet another good posting. Great to hear that you had a good time climbing a mountain. For less strenuous yet more fun exercise, take up golf and walk the course. With all the time you have, you should be taking lessons every week and practicing everyday. You teach me how to win with stocks and I'll teach you how to win in golf - deal?
Gold hit $630 an ounce today, and it doesn't look like it's turning back. Are you sure Gold will come back down to $550?
Jae, it is great to hear about your Bear mt trip. I should probably join you, I have gained a little since starting with NYL. Talk to ya soon.
Ross
Johnny: Read my blog dated 4/19 for the answer and thank you for the compliment.
Ross: Maybe you should join me one of these days. My plans are to go Tuesday & Saturday. We leave at 7am and come back at 1pm. Cost $15 for transportation round trip. Health should be the top priority for all of us. Unfortunately, people do not act until something goes wrong. I am much healthier now. I thank god for my cancer.
jae, it's dan -- john lee's friend from NYL. short IGT? check out what i wrote about the firm back on march 5 (it's up 3 points since then, mostly because of today's report...)
http://www.retailstockblog.com/article/7499
I still like name
Dan:
Great to hear from you. I saw your site as well, great job Dan. You have a good head on your shoulder, as a manager for many years, I can smell who can succeed. You will be successful Dan. Keep in touch. BTW, I did not enter the IGT position, thank goodness. I also like IGT long term (almost monopoly like MATK); this was meant for a quick trade that I did not get into. Thanks for your comment.
P.S: Did you see my RMBS trade?
Looks nice! Awesome content. Good job guys.
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