Technology were strong as expected from open.
Conditions were PERFECT for a major rally.......
Shorts were feeling GREAT...
Skeptics & nervous sold out...
Margin calls were covered @ any price.....
Prediction of "ongoing bear market was trumpeted by know it all"....
Guess what happens NEXT......
A major turnaround on a dime.....
Techs leading the charge.....which is extremely bullish.....
Guess what....even home Builders & Financials are GREEN.......this MUST be a BAD dream for sellers & shorts.....NO it IS REALITY.......
Welcome to REAL wall street......where doing DD & knowing few RULES do overcome minor HICCUPS......sub-prime was a minor hiccup...but everybody wanted to sell first & understand later.......
As I write @ 11.06 AM ...nasdaq is UP 44 points.....my guess is that we will close to near HIGHS of the day......
Bought FDRY today @ $18.40...it is the laggard of networking.....I am hoping it will charge UP from hereon......FDRY went to new HIGH already...looks good $$
STP is flying UP $2.50......before OPEN it reports tommorrow..JASO had good ER this AM.
RIMM is getting so close to its ALL-TIME HIGH of $235..UP $4.19 to $226.41...goes EX DIV in Canada next wed for 3 to 1 stock split......expect MORE buying pressure going into ex div date.
SNDK woke UP today and is flying ...UP $2.40 on heavy volume.....
SNDA is the laggard in my portfolio UP only 15 cents...taking a LONG nap before ER 28th Aug AH.......
Everything is GREEN except few RED....I am listing RED today for a change:
AAPL(iexhaustion),MPEL,AMAT,QCOM,SNE,QID,NVTL,KLIC,SONS.
Good luck on rest of the day.....
BLOG does not give buy or sell.
Saleem
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