I'm back and boy am I glad I left those wonderfull tidbits of poop for you guys to stare at for a month. Not only was the stock I bounced on (RIMM) up distinctively from this point but the three recomendations (SHRP, EBHI, SNDK) all took it on the chin. Oh well, at least the Dinosaur Trader is re-reading Atlas Shrugged so maybe there is room for hope in Galt's World after all.
Low and behold although this may not be the bottom of the market I always say that there are always good stocks out there to pick up. I think Fly's IIG after it shed 20% is in for more of a bounce then its 24 cent uptick in afterhours to 17.38. Then there's RIMM which I do think is still a buy at 131.06. SNDK hit 40.00 and if I liked it at 50 I love it at 40.
I rode RFMD to 7 once and dumped so heck why not rock it again here @ 6.03.
WYNN at this point if it tanks another 10% from 138 should be taken into consideration despite the remarks from a patron last time I was in Vegas that his room contained an "infestation of insects". Wynn and Adelson control Macau and, IMO, there's many Asians enjoying the 'lottery' out there and will want somewhere to dump their cash.
Outlandish predictions in commodities:
Gold- 900 by end of the year and 1000 by mid February.
Oil- Falls back to a 'reasonable' low $80's per barrel also by mid-February
Dollar- Won't drop as noticeably as it has been lately but an ETF like FXE should still remain a safe cog in anyone's portfolio
Till next time,
John Galt Jr.
Wednesday, November 7, 2007
Return from the Deep Unknown
at 10:40 PM
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