Bernanke is saying that among the indicators of economy..... inflation is a concern and growth is slower than expected for economy in 07.......
10 yr Bond yield fell to 5.0140%......which is great for stocks.......
Markets are reacting to sub-prime issues and may close on an optimistic note.......
I practice what I preach......so did some trade......
Booked profit in TOL sold @ open......booked some loss in ESLR ..sold @ open...both trades were a wash for me.........
Bought SNDK @ $56.30.......as it was my plan to do so............ before earning tommorrow AH......SNDK is among the strongest stock lately......
SNDK was upgraded this morning by JP Morgan.....who are seeing a MAJOR BOOST in demand for Flash Memory....due to catch up game played by everyone to ......put more things in CELL...thus expanded use of Flash.......they are also saying supply will be TIGHT for Flash which will benefit SNDK.....big time.......all of this was my thesis for the last 3 months.....when I traded SNDK 4 times already........this time it is a keeper as SNDK is going into strong cycle......
So my portfolio now is:
SNDK,RIMM,SNDA,CMED,YHOO,UXG & FDRY.........
As expected UXG is green as Gold is flying today UP $7.50...never hurts to have some gold stock in any portfolio.......
SNDK is Up almost 70 cents from my cost...so far....
SNDA is unchanged...wants to go green.....
YHOO is showing some life.....it opened @$26.07 and it is trading @ $26.35......lot of buying in YHOO........good for its technical health......
CMED is down 96 cents.......
RIMM down 93 cents & FDRY down 31 cents
Not bad considering nasdaq is down 27.......
Among other strong stocks @ 11.32 AM are:
NT (up 2 days in a row),TZOO(found support),SOHU,NTRI,AUY,QID......
Please continue doing your due diligence & stay DIVERSIFIED in strong sectors.
Good luck on rest of the Sub-Prime laden day .
BLOG does not give buy or sell.
Saleem
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