Typically on a day like today where the market starts out hot and remains that way all throughout the day, I like to narrow down a list of stocks I am looking at for late afternoon trading. Unless you came into today locked and loaded it is tough to really knock it out of the park.
Many of the earlier alerts have reversed and I am now narrowing my search down to those that I think can really get moving this week. The NASDAQ is clear leadership and the fact that the Semis remain one of the most attractive sectors, has me wondering if this action will be perfect for the stocks I favor.
The early action is hot out of the gate and keeping at least some exposure on Friday
One of our founding fathers, Remora, aka iRemora, aka iDave, aka THE MAN NOT A WOMAN, threw out a term in his last post that doesn’t quite do it. In fact, he even admitted it didn’t sound right, however it does bring up something I would really like to put out there.
As I write futures, oil, gold and overseas markets are all roughly flat. The buzz seems to be on the fruit’s delivery of the iPhone, which so far has gone down as a fabulous hit. I am not sure how they always do it, even the T-shirts they gave out look better than most. There is a common term on the street “buy the sizzle, sell the steak” or more rudimentary “buy the rumor, sell the news.” I am very curious to see how the Fruit does today as I don’t know a single soul who has the guts to try and short this stock especially since it is sitting in a high pennant and is one of the most attractive large cap techs going right now. I am considering an options straddle to play the volatility but other than that, won’t do too much other than observe.