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Market Tracker, 4-23

|Includes: DIA, IWM, NTR, ONEQ, Orient Paper Inc. (ONP), SPY

      Today ended the week on an unsatisfying note. Orient Paper went up 10%% after I sold it at a loss. As much as I hate to sell at a loss and then buy back as a stock has risen above my previous purchase price, I might do just this. I do not have a firm rule about this because I believe it really only should be judged on a case-by-case basis. There is no technical evidence as to why ONP shouldn't rise back to at least its previous highs [which would make a 35% profit on the current price]. That in combination with extremely sound fundamentals and what appears to be a market that will continue up for the near future, I think I will re-enter a position on Monday. I'm looking for a lot of quick money on this pick, and do NOT plan to wait around on it. I will wait for it to hit the peaks [hopefully], take 50% profit, and then see if it will rise break above those peaks. Granted, this is all contingent upon overall market sentiment. Potash went up less than a percent today, a pitiful jump. I'm still bullish on it and that's about the end of what I have to say about that one.

     The overall market today acted in a way that was very unhealthy, but typical, today. After one other, the fact that Greece default was likely was the 2nd biggest article on the front of the Wall Street Journal this morning. Over the last month, this has been a driving issue for stock markets around the world. Bad news on Greece has led to rapidly falling stock prices at the beginning of the market session. That wasn't the case today though, as markets continued upwards throughout the day and ignored the Greece debacle. Very odd, but definitely supportive of the run-away idea supposed yesterday. Hmpf.



Disclosure: Long POT