Busy Buying

I’m very busy on this seemingly benign market day buying quality chart setups and working my existing longs.  There are a few notable pockets of strength in the market today.  The office supply (such an exciting business, think The Office) industry is hot with merger and deal talks.  I think the news is enough to shake up the shorts in ACCO so I started a position in the name.

I’ve ratcheted up my Japan exposure today by initiating a new position in PC.  My buys of MTU yesterday and PC today have increased my Japan exposure to around 8%.  I like the chart setups and the overarching macro theme.

I have several other charts lighting up my stalker screens, but I’m not getting overzealous here.  Instead I’m just buying underlying strength.

Finally, I like how ZNGA continues to behave.  You always have it in your mind that a 10% down day is “normal” in this name, yet it’s been consolidating its recent progress well.  I may add to this position this week.  Like Fly said, if AAPL makes the turn here, it trumps the action in other NASDAQ components.  It could buoy plays like ZNGA.

3 Responses to “Busy Buying”

  1. AHhhh..The Calypso

  2. you must be getting your head handed to you. this market is NOT done going down

Comments are closed.
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Busy Buying

I’m very busy on this seemingly benign market day buying quality chart setups and working my existing longs.  There are a few notable pockets of strength in the market today.  The office supply (such an exciting business, think The Office) industry is hot with merger and deal talks.  I think the news is enough to shake up the shorts in ACCO so I started a position in the name.

I’ve ratcheted up my Japan exposure today by initiating a new position in PC.  My buys of MTU yesterday and PC today have increased my Japan exposure to around 8%.  I like the chart setups and the overarching macro theme.

I have several other charts lighting up my stalker screens, but I’m not getting overzealous here.  Instead I’m just buying underlying strength.

Finally, I like how ZNGA continues to behave.  You always have it in your mind that a 10% down day is “normal” in this name, yet it’s been consolidating its recent progress well.  I may add to this position this week.  Like Fly said, if AAPL makes the turn here, it trumps the action in other NASDAQ components.  It could buoy plays like ZNGA.

3 Responses to “Busy Buying”

  1. AHhhh..The Calypso

  2. you must be getting your head handed to you. this market is NOT done going down

Comments are closed.