Banks are doing fine, compared to the Armageddon action of a few months ago. Everyone is so enamored with all of the little stupid banks, when the only signs of hope, in this pathetic economy, derive from tech.
The tech heavy nasdaq is the only index up (4%) year to date. Without technology, the banks would be sucking moose balls. Trust me when I say: this market dies without a tech rally.
It’s real easy to have growth, when business was at a standstill in Jan-Feb. In most semiconductor fabs, back in Jan-Feb., capacity utilization rates were running in the 35-40% range, until the March resurgence, pushing it up to 70%. As a result, some companies will enjoy fantastic growth; but keep in mind, it’s coming off of ridiculously depressed levels.
While production normalizes to recessionary levels, there will be buying interest in stocks that service fabs, like tool companies or testing and packaging companies.
Here is my buy list: [[AMAT]], [[ASML]], [[LRCX]], [[TER]], [[AMKR]], [[SPIL]], [[TQNT]] and [[ASX]].
Also, there are encouraging signs of life in the PC area, with motherboard makers ECS and ASrock reporting good numbers. That may bode well for [[DELL]] and [[HPQ]].
And, let’s not forget the 4G network being built out by [[VZ]], dubbed LTE (Long Term Evolution). Verizon is working feverishly, building out a state of the art 4G network, that will enable smartphones to cook you dinner and massage your back. Out of all of the companies selected by Verizon, [[STAR]], [[ALU]] and [[ERIC]] seem to be big beneficiaries.
As for today’s trading:
The shippers are kicking ass. Naturally, I am a big fan of [[GNK]], especially since it is my largest position. And, I like what I am seeing in [[ODP]], [[AMKR]] and [[LDK]]. Other than that, it appears the fucking pirates are disturbing our little rally, with their stupid/adolescent hijackings.
On the short side, I like [[ACC]] and crude, via [[SCO]]. However, I am long oil stocks, via ERX, mainly because equity investors are raging idiots.
In closing, the market has been good; but remember to take profits. The best buying opportunities will present themselves through weakness.
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certain gaming stock on pink sheets archie bunker touts is about to run …..
Hey all,
Are you getting bugged by friends that never invested in their lives and all the sudden with this rally are opening Etrade accounts and trading?
I am talking about lots of people asking about the market and going all-in long.
“Ohhh man, I am bought Citi at $1.50…this is going $30 in 2 years”
Everyone is a trader now mike…So funny you said that. My friend thinks he gonna get rich off C and GE.
Big Mike…the last time that happened to me…was very close to the implosion of the tech bubble in 2001…it is definitely not a good sign when every Tom, Dick, and Harry comes out of the woodwork to invest…keep those stops in place.
To another blogger here on the last thread,
DRYS to me is one of these weird plays, dice toss. Bloomberg yesterday said the dry bulk shippers are down and DRYS was their number one dice roll as a day trade only. They have alot of issues.
believe it or not they said DAC, although small with low volume was a better long term play.
Yeah man, people are loading up on C, BAC, ODP…pretty much the shittiest stock you can buy.
The ones that actually took my advice and not buyed them are getting pissed for missing 50% gains.
That LRCX reversal was one nasty two step (as they say in Lubbock).
Spent Easter with relatives. With them, it wasn’t stocks, but houses, i.e. “aren’t you going to buy soon?” (sold in April 2006, renting since- BEST TRADE EVER).
The bottom is in, new all time highs within a week. Buy some Qs and some Ts and hell buy, buy, buy!!
Big Mike,
Let me introduce to you the word “bought”, the past and past participle of “buy”.
Big Mike…50% gains? try 400%, BAC from 2.53 to 11.50?
C from .97 to 4.48? FITB from 1.01 to 4.75? COF from 7.80 to 19.87? shit, even JCP from 13.71 to 26.26 today…..
and you know most all these lows were hit just on March 6-8th, 5 weeks ago…..
they missed 50% just from last wednesday when BAC ended at 7.09.
yeh….their pissed…..$10,000.00 to $40,000.00 in 5 weeks….
big mike needs another crash to look smart.
GS is paying back the TARP money out of a profound sense of patriotism. Real salt of the earth types ova theya.
banks about to get machine gunned…last suckers where taken in today
Sell all your tech stocks now!!
Oh man, Obama’s getting ready to speak. CRASH TIME!!
Fly what happened to your New Years resolution of no leveraged etfs. Their good to play under certain conditions. Tech earnings we will rally around. Before we start the massive sell off
GS paying back TARP money to look good. and be able to give out big bonuses. Oh yeah and also so they put more pressure on banks and can begin to short
TheArtist,
Appreciate the DRYS note, took the 15% gain.
FWIW: MaVIS has her track shoes on today…giddyup!
One of my buddies buyed (sic) FITB in the mid 1’s and was bragging about his profits over the weekend. I told him the smart thing to do would be to take profits or at least half of the table and he said no he was holding for the 10 bag and didn’t want to take the short term tax hit.
That’s nothing.
I am holding my WCOM (Worldcom) and ENRN (Enron) until they triple from my buy price.
Hell that’s nothing….look at WGAT.OB from .01 to .30…. a 3000% bagger….I owned it way back when motorola was involved, I got in at 1.00ish and it jumped to 5.15ish in like 4 weeks…..then motorola pulled out (kinda like what I did to Melinda last night)….. when talking stocks I think visuals help…..
carry on……
I hope Artist and or Melinda is careful otherwise you may end up with little WGATs.
adding to shorts here…FITB, COF, AXP…whats in your wallet mr banker…some IOU’s, and CDS shit..fuck u.
TC, right on…..
WEll, the DC spin machine is begining again … to sell TARP 2.
FAZ to fill gap at 16 area
Artist…are you sure that was Melinda. I thought his name was Jeff.
All the stupid money coming in now means big rally in the short term to be followed of course by the kiss of death.
Sticks and stones will break my bones but lies will make you go broke.
Well Fly, I don’t know where you dumped the ole FAZ, but it is about to skyrocket here. Tomorrow reality hits. “Tea Parties” across the nation are going to be interesting indeed.
Notice how Gold is down, but gold stocks are up? That tells me we are at a top.
who are you and what did you do with the Fly? There will always be short-term swings, but one fact still stainds – the banks are a clusterfuck… they’re just having a fictitiously great quarter because of creative accounting and one-time AIG portfolio unwind profits. Now that GS stole another $5B via secondary offering at inflated prices this fucker is gonna drop again.
Long AIG from yesterdays close at avg. $9.27
did Blobama just pick his nose? or give the steal third base signal..? oh and fuck obama too..asshat socialist retard pussy
who are you and what did you do with the Fly? There will always be short-term swings, but one fact still stainds – the banks are a clusterfuck… they’re just having a fictitiously great quarter because of creative accounting and one-time AIG portfolio unwind profits. Now that GS stole another $5B via secondary offering at inflated prices this fucker is gonna drop again.
Long FAZ from yesterdays close at avg. $9.27
Pete Says:
Artist…are you sure that was Melinda. I thought his name was Jeff.
Click to Edit April 14th, 2009 at 12:01 pm 0 0
_______________
It was either Melinda or her twin sister Melissa?
come on Pete…. do I have to post the pictures?
anyway.
bought more BA at 37.32
buying GD on a dip if it dips back to 43.00
buying more CAT on a pullback
and great entry on shorting BAC at the top Cash-n-Guns….you nailed it.
Will there be teabagging at the tea parties?