It’s Only Money

Since I haven’t been to Vegas in quite a while, I bought “whale-like” amounts of [[ELN]], @ $10.92 basis (10:08 ET).

Check out this long tail down pattern. I’m playing for the bounce. This stock is waaay oversold.

This whole story on Tysabri is getting such negative press, it borders riduculousness. Medical journalists always love toxic drug stories. Two people in the EU develop non-fatal side effects and the stock gets slashed with a thousand knives?

The people I talk to say MS patients, doctors and pharmacists love this drug because of its effectiveness. The FDA has not issued a statement that I know of today.

Disclaimer: This is a “roll-the-dice” stock for tuxedo-clad gamblers. Trade with your comfort level for risk in mind.

I bought some [[CELG]] near the close @75.41. I’d been hoping for it to pullback to $66, but with the [[IMCL]] news, I couldn’t afford to wait on it here.

Big pharma needs to jumpstart their pipelines.

There will be more acquisitions and consolidations in this space.  

If you want to play here, there are so many of these stocks that are looking attractive technically, but first check out: [[BPAX]], [[CEGE]], [[CELG]], [[CGRB]], [[CRL]], [[GPRO]], [[ILMN]], [[IMMU]], [[ISIS]], [[MDVN]], [[OSIP]], and [[OSIR]].

I don’t understand my attraction to these, so don’t ask.

Keep in mind that many of these companies have no earnings, no prospects and burn through cash like a 16-year old cheerleader with her dads credit card.

Running a biotech company is a bitch….and then there’s the FDA.

Disclaimer: XXX-Rated. Adults only.

True to Costanza form, I bought shares of [[SIVB]], $57.63, aka Silicon Valley Bank.

This is not your average bank. With 27 locations in some of the key technology areas, they dominate business banking for emerging growth companies in the tech and biotech industries. They also have subsidiaries operating in the U.K., Israel, India and China.

Minimal exposure to real estate. Day-to-day core business remains very strong.

This chart does not look like a bank stock. Odd, no?

Stop: $51

Disclaimer: Not a recommendation to buy this stock. Be aware that you risk “de-banking” yourself when you buy bank stocks.

As you already know, Hank has issued the final word:

July 31 (Bloomberg) — Treasury Secretary Henry Paulson said he expects the government’s fiscal stimulus plan will boost economic growth in the second half of the year, offsetting a housing downturn and high energy prices.

“While our economy faces substantial difficulties that will continue to be a drag on growth in the short term, it is important to remember our long-term fundamentals are strong,” Paulson said in a speech at the Exchequer Club in Washington today. “I expect our economy to continue growing this year although at a moderate pace.”

The Treasury secretary’s comments followed a report earlier today that showed U.S. growth in the second quarter fell short of economists’ forecasts. Paulson, who promoted a rescue plan of mortgage companies Fannie Mae and Freddie Mac signed into law yesterday, said housing “remains our most significant downside risk.”

Paulson said he expected the $168 billion stimulus package enacted in February “to continue to support the economy in the second half of the year.”

Signals in the housing industry are mixed, Paulson said. Single-family housing starts “look to remain weak through this year” because of bloated inventories, new-home sales “appear to have stabilized” and house prices should begin to recover “in months rather than years,” he said.

This prognostication by the keeper of the treasure chest, plus Cramer’s market bottom call, may end up kickstarting the next bull market—egregiously, with much consternation and confusion.

Bought some Sun Hydraulics, [[SNHY]], $42.03…..(13:10 ET)

Looks good going into earnings. They report 08/05/08.

The clueless analysts are expecting $0.50.

Disclaimer: Not a recommendation.  Do a complete due diligence on this stock before buying, or risk getting a knife hand to the adam’s apple.

Lots of activity with [[FSLR]], $293.95. Such is life with a delightful stock.

Within the past two months, the chart pattern has shown a test of the bullish support line and three double top breakouts, the most recent of which has completed a “shakeout” pattern. 

In general, you can see a shakeout when a stock forms two double tops, subsequently breaks a double bottom, and then quickly reverses back up. The double bottom break gets rid of the weak holders. Finally, the shakeout is completed when three previous tops are broken.

The stock is now free to move over $300.

Fundamentally, the big story, and the next leg up for this stock is the utility play. It’s estimated that 40% of greenhouse gas emissions are due to demand for electricity.

In addition, because of its proprietary technology, there appears to be sufficient barriers to entry.

Disclaimer: This stock is XXX-rated. Adults only.