It was featured in my last night's newsletter.
Tuesday, July 12, 2005
Open
Even though the market opened weaker this morning, I am not much concerned. Soxx is down a tiny 0.04%, BTK down 0.48%, money rotates into networking. Rotation, let the over heat sector rest, a typical bull market behavior. BKX is in solid green as well. With banks showing strength, bears will have hard time to keep the market down.
Monday, July 11, 2005
Sunday, July 10, 2005
Weekly commentary
Last week we had a complete reversal: the market broke out of its tight trading range to the UPSIDE. We had three signals that told us we, as traders, should take off the bear mask and put on the bull. The first bullish signal was the surprising strength the market showed us on July 5th; The second one was Thursday's bullish reversal in the face of the bombings in London. And the third was the Nasdaq closed above 2100 for the first time since January. This is a clear breakout, though the volume was not very much impressive. But I would not try to "pick bones in an egg" here. In conclusion, these three signals during the week changed me from a bear to a bull.
Saturday, July 9, 2005
Past trades for the week July 5th
bot wssi @ 14.7, sold @ 15.74, net 7%
bot cbst @ 13.54, sold @ 13.23, net (2%)
bot dsti @ 12.9, sold @ 13.25, net 3%
bot ctrp @ 54.97, sold @ 54.23, net (1%)
bot cvtx @ 23.3, sold @ 23.31, net 0%
bot mnta @ 19.78, sold @ 19.3, net (2%)
bot ctty @ 17.95, sold @ 18.95, net 6%
bot conn @ 24.82, sold @ 25.75, net 4%
bot cvtx @ 23.74, sold @ 24.67, net 4%
bot kyph @ 35.36, sold @ 38.31, net 8%
bot diod @ 33.14, sold @ 33.04, net (0%)
bot iiji @ 8.54, sold @ 9.19, net 8%
bot tivo @ 7.69, sold @ 7.02, net (9%)
bot cbst @ 13.54, sold @ 13.23, net (2%)
bot dsti @ 12.9, sold @ 13.25, net 3%
bot ctrp @ 54.97, sold @ 54.23, net (1%)
bot cvtx @ 23.3, sold @ 23.31, net 0%
bot mnta @ 19.78, sold @ 19.3, net (2%)
bot ctty @ 17.95, sold @ 18.95, net 6%
bot conn @ 24.82, sold @ 25.75, net 4%
bot cvtx @ 23.74, sold @ 24.67, net 4%
bot kyph @ 35.36, sold @ 38.31, net 8%
bot diod @ 33.14, sold @ 33.04, net (0%)
bot iiji @ 8.54, sold @ 9.19, net 8%
bot tivo @ 7.69, sold @ 7.02, net (9%)
Friday, July 8, 2005
Biotech index
I highlighted the biotech sector in my newsletter. I think it has much upside room to go.
Open
The market opened with strength across the board. The only thing missing in this rally is lack of Nasdaq leadership. But biotechs continues to outperform as expected, do I ask too much?
Thursday, July 7, 2005
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