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Landing in Knots
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There is still no definitive answer on the status of the Strategy Lab fund after January 1. Can it go forward as a non-contest fund? Will it reset to zero when (if) becoming a new contest? So I decided to play it with very short-term strategy at this point, not knowing if I can (or want to) keep it long term. I believe the market will stay level or slightly bullish through the holiday season because: A. Holiday cheer raises everyone's spirits and optimism; B. Stores, banks, the government will all try to put out favorable news so as to encourage the best seasonal spending surge possible. I believe that at some point in January everyone will sober up and the overall bear trend will resume. ESEA was the weakest of my seagoing stocks and was down close to my limit so sold it. I replaced it by re-buying the offshore, contract, drilling company Transocean (RIG). That stock took a surge when it recently merged with GSF (which I owned); then I sold because I thought RIG would subsequently fall as the government questioned merger strategy. I decided China would be up through the rest of the competition so I sold the ETF FXP (Ultra Short China) and bought back more of the ETF FXI (bullish on China). To increase biotech/pharmaceuticals, which are doing well, I bought Sanofi-Aventis AG (SNY). I found this big, French company when looking for smaller health care companies for my MagicMicroCaps fund. It was a competitor to Repligen Corp. (RGEN), another former client which I have been trying to buy using a limit price. (I have some "extra" cash for biotech in MMC, having sold Trinity Biotech plc (TRIB) on news that they are restructuring.) So far no luck using limit price. The result is that the stock simply isn't bought at all. For MMC I am looking at 2008 strategy and am trying to get the best possible group of stocks in preparation for the yearly Jan./Feb./March microcap surge. Though this year the surge may be a ripple. | ||
Comments (2)
Humbaba Bull of Heaven,
Watch out for those two Cats - Gilgamesh & Enkidu - they grab you by the Horns and then what ?
I'm a little Queasy about the market now - A lot of recent action could be due to 'positioning' vis-a-vis the December Options Expiration on Friday. The market has had a reasonably good run in the last couple of days and there may be 'Profit-Taking' - also some year-end TAX-related selling. Any kind of PreText could discombobulate the AAPL cart, so to speak. There may be an initial reaction to what-ever the FED does followed by second-thought Back-Lash. I'm the first to go with the Santa Claus Rally / January Effect scenario - but if it's already "Priced-In" Mr. Market may "OBJECT". We'll just have to Watch @ the Ready, Freddy.
I see there's been a a run-up in stcks related to the - everybody's getting a GPS for Christmas notion. I pose this question - IF everybody who wants one Gets One - what are these companies's Prospects after New Year's Day. Some people think far enough ahead to Ponder such things.
I too like SNY - they've got a Boffo Diabetes Drug on the way. I think SEPR stock has been Pummeled to the Max - it may be ready for a Dead-Cat BOUNCE - or better yet - a come-back, so to speak. SHPGY is a Rocket waiting to happen, also. It's Irish - Maybe by St. Paddy's in March. Who knows ? Only THE SHADOW KNOWS, 4 sure.
Don Ferk
( aka VikingWarrior )
SLO-Port : RuthLessIntent
Posted by don ferk | December 11, 2007 12:59 PM
I've had good luck buying and selling with limit orders -- with the exception of some ETFs I was able to buy but can't sell at all, market or limit order. Fortunately they're doing OK, because Marketocracy hasn't been able to fix whatever the problem is.
Posted by Eileen Teska | December 14, 2007 2:25 PM