Friday, June 13, 2003
The market failed miserably today to follow through. This suggests that there will be a pullback to price levels that are worth waiting for. Wait until the S&P gets back to the 965-970 support area. This is a good area to buy stocks and cover any shorts. This is a good area to be long for the end of the month, end of the quarter rally later this month.
Posted by Steve at 8:15 PM
Thursday, June 12, 2003
The S&P Level was surpassed today on a closing basis; same for the Nasdaq, almost for the Dow but not quite. Friday the 13th will tell all. A strong Friday and the market will stay strong until the end of the month which is also the end of the quarter. At the end of the quarter, the funds mark up the stocks to pad their results.
Posted by Steve at 6:03 PM
Sunday, June 08, 2003
We took a 20% profit in SNE, and a 40% profit in GLW. So our model portfolio now consists of Short COCO-to be initiated this week; Long KROL@23.75, current price $23.89-hold; Long AETC@$2, current price $2.20; Long LEXR@$6.50, current price $7.97-Hold. Everything else in cash on the sidelines waiting for the market to come to us.
Posted by Steve at 5:18 PM
We are adding a new short to our list COCO- Corinthian Colleges, an online educational service, a stellar performer that looks tired. Sell short below 44.
Posted by Steve at 5:13 PM