Tuesday, April 24, 2007

Tuesday Wraps

Another pitiful day. I made money but only because I held AKS though earnings. Of course the fact that it was booming for the past 5 days or so and announced another early pension trust fund contribution on Monday didn't hurt my cause. In fact - if you are thinking about holding a stock through earnings those are the kinds of things to look for. AKS also guided higher so I believe I can hold it without a problem for a bit longer.

GGB on the other hand, the other steel company that I am holding, acted poorly yesterday and started sliding today so I sold it off - all of it. Then I reacquired a starter amount at a lower price and took on a second portion this afternoon. I'll build it up again if it resumes the upward march but I had too much profit in it to let it drift away. It will either go up and remain in the portfolio or drop and be kicked to the curb.

DNDN didn't work out as well as I thought it might - I truly expected another one and a half to two dollar day and it stalled and crashed. I dumped out this afternoon for a small loss ($130). I also dumped out of ANR this morning for a break even (including commissions) and added to KEP. I'm not sure why I like KEP except I expect the Korean's to come back tonight and that will reflect nicely on that stock tomorrow. I'm in it until Friday at the earliest (or stop out if it drops over the next couple of days).

The INDU ATR is at 105.87 and that is rising which is OK. The rally will continue. The VIX remains in neutral and NewMoMo continues to drop.

The model portfolio gained a few today to 15.46 and the benchmark printed 5.51% which is also up a small bit.

The three Amigos reflected the psychotic nature of the day with both AAPL and GOOG dropping a bit and MSFT rewarding its legion of followers with a 1 cent gain. Now that might not be much to you or me but there are over 5 billion shares in institutional hands alone - you do the math. I don't know why those 5 billion + shares are worth one cent more today than they were worth yesterday but - whatever.

The up/down ratio is at 38% so I'm going for another up day tomorrow.

The coin says ... heads - also calling for an up day.

Another tie day - the score stands at Marlyn 26 - 26 and 11 and the coin is 29 - 23 and 11.

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