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John Ward
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Equities trader. I currently live in California. Email: john.authorego@gmail.com Twitter: JWard_73
  • July 11, 2010 0 comments
    Jul 11, 2010 7:10 PM | about stocks: OPEN, ASPS, PRAA, VIT, VQ, UCTT, NFLX, MGA, VMW, BRK.B, ROVI, TIBX, CMG, CRM, RVBD, FNSR, APKT, AZO, AAP, AKAM, ARUN, FFIV, LOGM, SPRT, ALTR, NETL, CAVM, AVGO, OVTI, CRUS, GSIT, MEND, ARMH, CYBX, THOR, VASC, VRX, NVO, AZN, SLXP, JAZZ, HMSY, RURL, NEM, GOLD, EGO, NTAP, ISLN, CTRX, MDAS, BIDU, WBMD, ACOM, STR

    Institutional investors appear to have taken last week off and so attempting to read much into it would just be inane, wedging action notwithstanding.  Sentiment has gotten pretty negative, however, which makes me wonder about whether any imminent negative reversal really could be in the cards.  It may take some time – that is, if it happens at all.

     

    While the evidence up to this point indicates that this past week was nothing more than a “short-covering” snap-back, it is important to take nothing for granted and to at least admit the possibility that we could run even higher from here.  Again, warding off biases is part of the job description. 

     

    So with that in mind, here is a list of stocks that, while certainly not perfect, are either basing, holding up well, or that have already broken out:

     

    OPEN

    ASPS

    PRAA

    VIT

    VQ

    UCTT

    MGA

    NFLX

    VMW

    BRKB

    ROVI

    TIBX

    CMG

    CRM

    RVBD

    FNSR

    APKT

     

    The strongest stocks tend to run in groups, so I’ll also include a partial list of these:            

     

    “Retail/Whlsle-Auto Parts”

    AZO

    AAP

     

    “Internet-Network Sltns”

    AKAM

    ARUN

    FFIV

    LOGM

    SPRT

     

    “Elec-Semicondctor Fablss”

    ALTR

    NETL

    CAVM

    AVGO

    OVTI

    CRUS

    GSIT

    ARMH

                                            

    “Medical-Products”

    CYBX

    MEND

    THOR

    VASC

     

    Medical-Ethical Drugs”

    VRX

    NVO

    AZN

    SLXP

    JAZZ

     

    “Comml Svcs-Healthcare”

    HMSY

    RURL

     

    “Mining-Gold/Silver/Gems”

    NEM

    EGO

    GOLD

     

    “Computer-Data Storage”

    NTAP

    ISLN

     

    “Computer Sftwr-Medical”

    SXCI

    MDAS

     

    “Internet-Content”

    BIDU

    ACOM
    WBMD

     

    “Energy-Solar”

    STRI

    JKS

       

     

    If this market has anything going for it, it’s that nobody believes it can rally; while this is hardly reason to get long here, it is something to consider should you find yourself itching to short something beyond all recognition. 

     

     

    Still, the short targets remain the same:   

     

    V

    MA

    BUCY

    PCLN

    AFL

    GOOG

    CTRP

    GMCR

    GS

    JPM

    AMZN

    AAPL

    FSLR

     

    Having achieved over an 83% return since early May by working exclusively on the short side, I have since covered all my short positions; unfortunately, I did this in too pedestrian a way and it ended up costing me a few percentage points more than I would have liked.  The account is now up 69% for the year.  As they say, you live and you learn. 

     

    Earnings are upon us, so stay alert!



    Disclosure: Long: VMW, BRK.B
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