Monday, January 29, 2007

Today's action and plan

  1. Today Nasdaq went up early and then closed down, up 0.2% at the close. Looks like people are not sure about buying or selling before the dump of the news later this week. My sense is, it will move down once the dust is settled.
  2. QID is still a good way to play the market for the next few months.
  3. RIMM was down today and almost broke its neckline on the way down. See more down side from here.
  4. AEM and GG consolidated recent gains, so I'll add again if they pull back further.
  5. PAAS and SSRI were all at new record highs early today and then took a break. I view this as positive, they need to consolidate and gain strength before the next rally. Next few days they may move sideway or move down. But SLV is strong recently and it may break 140 soon.
  6. I reduced ABX, NEM and GLD today. Moved part of funds to AEM and GDX. Will add more later.
  7. CCJ and FRG are on my watching list. I think both of them got great potential because of uranium bull market for the next 20 years.
  8. GOOG will report on Wednesday, it can move the tech market. Watch it closely. It is at critical $500 level also.
  9. I see GOOG move to $450 or $550 after the earning report, that is, a 10% move. I don't see it stays at $500. May consider a straddle or strangle option play, but it's too expensive for straddle. Strangle is not that expensive, but if GOOG doesn't move, then it's dead money.

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