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Dollar Up, Tech Up, Commodities Pressured : Afternoon Market Update

|Includes: SPDR Gold Trust ETF (GLD), GNPR, IMPM, VZ

12:15pm  (originally posted on Kudrna's Stock Market Blog)  

We are finally seeing some leadership today and finding it in technology.  Even financials are starting to come around again.  However it is still not enough to put us positive on the day as we are about 100pts down as I'm writing this.  The dollar is putting pressure on oil, gold, etc…again so I’m keeping an eye on starting what seems to be my favorite long trade in SPDR Gold Trust (NYSEARCA:GLD) if it dips.

I’m expecting some low volume this afternoon as we have a 3 day weekend coming up and many are fearful of holding longs over the weekend.  Expect volatility and I wouldn’t be surprised if the market goes lower either.  I’m going to use that opportunity to pick away at some cheap small cap stocks, if possible.

I’ve already started accumulating more shares in Impac Mortgage (IMPM) which I recently wrote an article discussing my analysis and strategy.  If you haven’t already, you should read it immediately.  It is filled with useful tidbits of investment information, in my humble opinion, and I'll be referring to my strategies in future articles.  I’m enjoying the opportunity to buy shares at this price in IMPM and am not worried as volume is relatively low.  If we sold off on very high volume, I’d have had no choice but to sell some shares and respect that important negative indicator.  Instead, I’m accumulating more on low volume weakness before earnings next month.

I’m also attempting to accumulate more shares in Genius Products (OTC:GNPR) but again, I may have to raise my purchase price as not many people want to sell this low.  Since the O/S is so low, I might not have much of an opportunity to accumulate many more shares before the release of Scratch the Ultimate DJ next quarter.

Keep an eye on GoIP Global (GOIG.PK) as well as Monday it will finally launch the much anticipated service website for the future Go800 patent pending system.  If the price jumps high on the news later today or Tuesday, I will sell some shares into strength and look to buy them back cheaper when the excitement subsides.  The next catalyst for GOIG is Verizon (NYSE:VZ) preparing for the service which should be completed by the end of the month.  Verizon seems to be the only reason the service is coming out in March rather than February.  Sprint, T-Mobile, and AT&T are already prepared for the launch.  As soon as VZ is ready, I expect a solid launch date to be announced shortly after which will only fuel more excitement for GOIG.

As you can see, my portfolio will be very busy for the next few weeks and I’m very excited at the upside potential.  I’m well diversified with large cap stocks mixed in with some smaller speculative plays and since I have no emotional attachment or loyalty to any stock, I’m not afraid to cut my losses quickly if my belief in a stock is no longer intact.  Also, thanks for the positive feedback on the Stock Chart Lesson Article I posted yesterday, it is greatly appreciated.  Get some rest over the weekend and don’t forget to say hello in the new live chat I installed.  Good luck out there.


Disclosure: Long GOIG.PK, VZ, IMPM, and GNPR.PK but positions can change at any time