Danger ahead
The behavior of the market has been terrible.
Just look at the past leaders in this market and you will see the damage it has been receiving in 2006. Intel, Dell, Sandisk, XM Radio, Ebay and many other high flying stocks been punched out. I personally feel that this is overdone but things can easily get even more overdone.
Trust me, I've been there - done that.
Acetrader's portfolio however, recently hit a new high!
I will be updating the performance numbers soon and I am excited about the rest of the year. But let's get ready for the last battle before bulls finally come out of the woods. This Tuesday, Mr. Bernanki will decide whether to raise interest rates yet again. Normally, wall street guys know what to expect, but this time it is 50/50. Most so called "experts" do not agree on this issue. My opinion? Either Mr. Bernanki should not raise this time or raise it with a statement that this is the last time. If this happens, we have a potential new bull market. If anything but above happens, look out below!
I thought of trimming some of our holdings in light of what's happenning. After studying my portfolio, I decided to ride the wave. I just could not find a good candidate to sell! And this is after earning substantial gains this year so far!
So, hold on, things will get rocky in coming weeks.
Last Friday we had a lot of actions. Unfortunately I was not feeling well. For the first time since my chemo, I could not go hiking due to lack of energy. I stayed in bed all day Saturday. Today (Sunday) I got some energy back. I hope to continue my mountain hiking soon. I need the excercise as we all do.
#1. We sold the shares of IDWD we bought two days earlier. We bought it at $0.57 as per my blog, and we sold it at $0.87 for a gain of +52.6% in two days. Nice one. We are still holding 10,000 shares just in case. Reminder: If you made few thousand dollars in a few days, take it. I do.
#2. Remember my open oredr for MIDS? We lowered our limit order to buy at $1.41/share from $1.51 but during the last few days we missed it by a penny everyday. Someone saw my order and kept placing a $1.42 order. Well, I decided to give in and changed my order to $1.43. And guess what, we now own MIDS. Our initial buy was for 4,200 shares and I have already placed an additional order for 4,500 shares at $1.33 limit. I hope we get filled soon.
#3. We are still accumulating EXPEZ. We now hold 3,000 shares and have an order for more at $3.55/share. Our average cost currently is at $4.37. Not bad - I say.
#4. Have you been noticing that our IGLD is slowly creeping up? It is now trading at $5 range. It was at low $4's last week. Good sign.
#5. Our "A" students; RICK & UTK are both doing exceptionally well. Hold on tight. We are up big on both of these. And we plan to be up triple digits on these babies. As long as the business continue at the current rate, our plan is to grow old with these.
#6. We are still waiting for XMSR to come into our buy range at around $10.90/share. Wait.
Monday will prove to be exciting if you know what to look for. Try to look for "Smart Money" action during the last 30 minutes of trading. Usually the last 30 minutes tell you what to expect for the next day events.
P.S: BP Proudhoe Bay (BPT) experienced an oil spill this weekend (due to rusty pipes - if you can believe it). The pipeline will be shut off during the clean up (it will take a while - multiple locations). Why is this so important that I put it in my P.S line? Let me give you the perspective on this. The 400,000 barrels per day loss represent almost half (50%) of all Alaskan production. In addition, this also presents about 8% of total U.S. oil production. Got Oil?
PPS:Buy hybrid if you can. The leader in this field, Toyota, just passed Ford for the first time in history. It is only matter of time (I mean soon) before it passes GM (the largest in the world) to become the number one player in the world. I just love Japanese cars eventhough I drive the Mercedes. Just test drive the hybrid, you will fall in love. Try it.
Just look at the past leaders in this market and you will see the damage it has been receiving in 2006. Intel, Dell, Sandisk, XM Radio, Ebay and many other high flying stocks been punched out. I personally feel that this is overdone but things can easily get even more overdone.
Trust me, I've been there - done that.
Acetrader's portfolio however, recently hit a new high!
I will be updating the performance numbers soon and I am excited about the rest of the year. But let's get ready for the last battle before bulls finally come out of the woods. This Tuesday, Mr. Bernanki will decide whether to raise interest rates yet again. Normally, wall street guys know what to expect, but this time it is 50/50. Most so called "experts" do not agree on this issue. My opinion? Either Mr. Bernanki should not raise this time or raise it with a statement that this is the last time. If this happens, we have a potential new bull market. If anything but above happens, look out below!
I thought of trimming some of our holdings in light of what's happenning. After studying my portfolio, I decided to ride the wave. I just could not find a good candidate to sell! And this is after earning substantial gains this year so far!
So, hold on, things will get rocky in coming weeks.
Last Friday we had a lot of actions. Unfortunately I was not feeling well. For the first time since my chemo, I could not go hiking due to lack of energy. I stayed in bed all day Saturday. Today (Sunday) I got some energy back. I hope to continue my mountain hiking soon. I need the excercise as we all do.
#1. We sold the shares of IDWD we bought two days earlier. We bought it at $0.57 as per my blog, and we sold it at $0.87 for a gain of +52.6% in two days. Nice one. We are still holding 10,000 shares just in case. Reminder: If you made few thousand dollars in a few days, take it. I do.
#2. Remember my open oredr for MIDS? We lowered our limit order to buy at $1.41/share from $1.51 but during the last few days we missed it by a penny everyday. Someone saw my order and kept placing a $1.42 order. Well, I decided to give in and changed my order to $1.43. And guess what, we now own MIDS. Our initial buy was for 4,200 shares and I have already placed an additional order for 4,500 shares at $1.33 limit. I hope we get filled soon.
#3. We are still accumulating EXPEZ. We now hold 3,000 shares and have an order for more at $3.55/share. Our average cost currently is at $4.37. Not bad - I say.
#4. Have you been noticing that our IGLD is slowly creeping up? It is now trading at $5 range. It was at low $4's last week. Good sign.
#5. Our "A" students; RICK & UTK are both doing exceptionally well. Hold on tight. We are up big on both of these. And we plan to be up triple digits on these babies. As long as the business continue at the current rate, our plan is to grow old with these.
#6. We are still waiting for XMSR to come into our buy range at around $10.90/share. Wait.
Monday will prove to be exciting if you know what to look for. Try to look for "Smart Money" action during the last 30 minutes of trading. Usually the last 30 minutes tell you what to expect for the next day events.
P.S: BP Proudhoe Bay (BPT) experienced an oil spill this weekend (due to rusty pipes - if you can believe it). The pipeline will be shut off during the clean up (it will take a while - multiple locations). Why is this so important that I put it in my P.S line? Let me give you the perspective on this. The 400,000 barrels per day loss represent almost half (50%) of all Alaskan production. In addition, this also presents about 8% of total U.S. oil production. Got Oil?
PPS:Buy hybrid if you can. The leader in this field, Toyota, just passed Ford for the first time in history. It is only matter of time (I mean soon) before it passes GM (the largest in the world) to become the number one player in the world. I just love Japanese cars eventhough I drive the Mercedes. Just test drive the hybrid, you will fall in love. Try it.
posted by Jaewoo | 9:51 PM
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