Markup

It is end of month again. Some individual movers showed incredible strength in today's session. I have no doubt that markup is having some effect on them. So don't be surprised to see them come back down tomorrow or later this week.

Update: VRSN

It was mentioned over MSN last week. Kinda slow though.

Bonus: RIMM

Free real time pick of the day.

Update: AQNT

Update: BOOM

GEOI

GEOI continues last Friday's momentum.

Weak open

The indices are taking a rest this morning that doesn't stop the individual momentum plays. They are on fire now, including IIJI, ABLE, GEOI, SNHY, GOOG, RIMM. The investors are taking advantage of any dips we have and bidding up the stocks.

Past trades for the week May 23rd

bot goog @ 243.57, sold @ 250.12, net 3%
bot shld @ 144.47, sold @ 147.01, net 2%
bot boom @ 33.32, sold @ 35.51, net 6%
bot boom @ 35.24, sold @ 36.5, net 4%
bot ntli @ 63.93, sold @ 63.43, net (1%)
bot plab @ 22.72, sold @ 22.75, net 0%
bot boom @ 38.67, sold @ 39.15, net 2%
bot able @ 12.1, sold @ 12.8, net 6%
bot able @ 14, sold @ 14.81, net 5%
bot snda @ 34.97, sold @ 35.36, net 1%
bot boom @ 39.66, sold @ 42.2, net 6%
bot orct @ 22.91, sold @ 24.1, net 5%
bot ivii @ 15.09, sold @ 14.99, net (1%)
bot shld @ 150.6, sold @ 149.4, net (1%)
bot pact @ 8.13, sold @ 7.99, net (2%)
bot lkqx @ 23.69, sold @ 24.61, net 4%
bot vphm @ 4.16, sold @ 4.45, net 7%
bot artc @ 32.39, sold @ 31.95, net (1%)
bot goog @ 261.48, sold @ 264.9, net 1%

Weekly commentary

First quarter U.S. GDP was revised upward last week from +3.1% to +3.6%. This marks seven consecutive quarters of 3%-plus GDP growth, the best such run since '83-'86. And yet inflation is well under control. The stock market loves growth without inflation, and that's exactly what we have. This is why I think this one-month-old rally has the potential to go much farther.

VPHM

Here is something I caught though.

IIJI intraday

This is 15 min chart.

IIJI

Another flier I missed today.

Update: BSTE

Ugly bar today, you should honor your stop at $63.

ABLE

I am kicking myself for missing the ABLE train.

A bullish case for GOOG

I am just so surprised to see how bearish investors are feeling on GOOG. Every investors I talked to are saying GOOG's price is too high, it can not maintain this price, it will fall eventually. Blah, blah, blah. I said, this one is going HIGHER, MUCH HIGHER. The reason, because you guys dare not chase it; because in the stock market most people are wrong. Look at the chart, it is less 1% below its all time high. This is STRENGTH. You don't want it, give it to me. Now, I am back to bullish camp on GOOG. And I am proud of it.

Holiday

Due to the holiday, most traders are taking today off already. Only small traders, you and me, are left. Some profit taking is happening now, which is totally normal before the long weekend and after the big run up we have had.

Update: Russell 200 index

If Russell 2000 stalls right here earlier next week, that is coinciding with Semiconductor index at the resistance as well.

Update: semiconductors

Semi approaching resistance.

Update: PNRA

Raise stop to $62.

Update: KBH

Another homebuilder.

Update: TOL

Homebuilders are the leaders of the day.

Update: NDAQ

Impressive uptrend.

CKCM

Winner of last night.

Strong open

The market opened strongly this morning. Now traders on the sidelines have to pay up for the stocks. I guess a squeeze play is happening now and tomorrow. Remember the next Monday is a holiday. So buying frenzy is going on.

BOOM

BOOM is on the way to $50.

Slow day

It is a slow day that makes me sleepy. The market is broadly lower but the pullback has come amid below average volume. It is lack of buying interest as this point.

BSTE

Even though overall market is soft, but it doesn't stop our breakout play, BSTE. It was featured in last night's newsletter.

Crude oil

On daily chart, crude oil bounces off the support.

Morning

The market continues to be in the soft side in the morning. I see red across the board. Don't jump in yet, I would give the market several days to work off the overbought condition.

GOOG

it might be a $300 stock, but I certainly will not touch it when I see this bearish stick.

Crude oil

This is the weekly chart of crude oil, I m neutral to bearish long term on it. Short term I think it possible found bottom here.

Airlines

The airlines just look sick. I know some traders are looking hard into it. But I just don't see any potentials from here. Away from it.

BOOM

It was caught at yesterday's msn chat. Rally continues.

Strength

This market is so strong, just refuses to come down.

Morning

This morning the market has been in a profit taking mode, but not by much. Every pullback meets buyers. Look at GOOG, I feel like I am in late 90's.

SHLD

Huge breakout on SHLD, it has been featured in my newsletter since last week.