Stocks are still cheap, however I’ve decided to book a few profits and raise cash. So far today I’ve sold my positions in $STEC, $AONE, & $NR. I’ve also started a initial position in $TZA as the hybrid is near overbought levels.
Solar is at a standstill today, but the sector stills look good. I am still long $STP & $YGE, with $YGE being a long term position for me.
$ZAGG is on the brink of a breakout as iPhone4 owners scramble to buy bumpers to fix the reception problem, but the stock trades like shit, so be careful.
The Euro looks great, and the dollar looks good for further weakness, both of which is good for stocks. However, shit is starting to float, as penny stocks are breaking out all over, ie $PCBC, which tells me the run is coming to an end. Now, I’m not calling for a full out reversal, but a minor pullback is in order.
If you enjoy the content at iBankCoin, please follow us on Twitter
RC, I know we are at overbought level, but do you hold until earning season is over?? Most earning have been great so far?
OB is not as accurate as OS, stocks can still run here. Just be cautious.
Thanks bro…still learning, thanks for the help
the Fly just answered my question…thanks
What you just said is gold.