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Ain't Got Time to Blog!
at 2006-03-22 12:06:57
 - That's right. I got hit hard at the Fun Factory, so I missed the excitement of the day's reversal in the market. After running my scans tonight, I still think tech and semis don't look too bad, but the safer stocks, regional banks, DVY, etc., continue to look week. I'm still hoping we tread water until monthly strength hits. Seems like fear is in the air. And whenever Bush speaks, it doesn't ignite confidence in stock buyers.
- American Idol was okay tonight. I think Kellie Pickler did the best. The lil' Minx... I think Chicken Little, Bucky or Lisa needs to be voted off. Ace Young wasn't that great, eithe
Market Recap & Today's Activity
at 2006-03-22 12:06:56
The broader markets finished higher today, as the Nasdaq gained 1.46% to close at 2314.64. The Dow closed up 0.6% to 11,053.53. The S&P 500 finished up 0.83% and closed at 1291.24. The volume was weak on the ETF's (QQQQ, SPY, & DIA), but most stocks finished near their session highs for the day.
I used today's market strength to close my Marvell Technology (MRVL) March 60 call for a small profit. Tomorrow will be national Google Day (analyst day) so lots of volatility is expected. I doubt Google will give guidance since they never have in the past. It should be interesting to see what new technology they launch or what some top executives have to say.
Two Dying Generals
at 2006-03-22 12:06:56
General Electric (GE) and General Motors (GM) continue to underperform the Dow (both near 52 week lows while the market climbs). I admit GM looks like an interesting value play with $16 billion in cash and a market cap of only $11 billion. Oh, then there is the $286 billion in debt and the company hasn't reported a profit since the fourth quarter of 2004. I will pass on GM, but I do like Tata Motors (TTM) and Toyota (TM).
General Electric is very profitable yet is "“over-owned" by Wall-Street. It is difficult for a 346 billion dollar company to continually have EPS growth of 20% per year. In general, conglomerates like GE are too diversified and make over achieving difficult.
Note: I have no position in any of the
Portfolio Update
at 2006-03-22 12:06:56
So far things have gone pretty well in 2006 for the portfolio. Lately, tech seems to be king and I am starting to wonder if we are at a top in technology stocks (BRCM, MRVL, CIEN, JDSU, GOOG, AAPL...) & emerging markets (EEM, IFN, IIF, HDB, UBB, BBD...). The buying frenzy is getting ahead of itself. Maybe I am approaching things too cautiously because I did not follow the markets during the "bubble/boom 90's." Anyways, I will still continue to stay overweight stocks.
2006 YTD Return: 13.6%
(Includes Dividends, Commissions, & Realized Net Loss from Option Trading)
2005 Annual Return: 10.5%
(Includes Dividends, Commissions, & Realized Gains from Option Trading)
Top Holdings as of 3/2/2006
- Broadcom (
Moving On Abnormal Volume
at 2006-03-22 12:06:56
JDSU & Chesapeake Energy (CHK) had heavy volume today and big price spikes without any upgrades or earnings. "Volume never lies." Keep them on your radar.
Note: I am long CHK & looking to go long JDSU
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