Wednesday, April 7, 2010
You can have mine. After all, I was all over this stock last October when nobody cared or nobody loved it, or no-one wanted to visit a store.
I'll give it to Cramer! It worked with BUCY!
Gold's spiking and a beneficiary of that is Bucyrus. But, I've been touted this name last July at 28, said to sell it at 66, when Cramer touted it, and then buy it back at 53 on Feb 1 when it corrected, so I'm letting that number go also.
Maybe it will run higher, but since Cramer gave me an exit on TSCO I'll take another name off. Booyah!
And enough already with WYNN. You got this name last March before it tripled, (and LVS at 1.77). Granted, at these depressed levels of earnings WYNN should sell at a big multiple but if earnings double to $2, is it then worth more than 40X that number? LVS is opening in Singapore at the end of the month, and usually, you get a sell the news type of reaction. And WYNN, has to have its plan in place for Foxwoods by April 26. All, I know is that the shorts are getting killed in this name, and when you hear them crying, you usually, get some sort of reprieve. When Sheldon talked up Vegas, Steve completely downplayed it. So hit the bid then, if you really believe it. Maybe Steve will sell some shares, to pay for some expansion, and then if he changes his mind, come December, pay another big dividend, and work the shorts some more!
And I know I've been a big bull on AAPL. Heck, I touted this number last March under 90. I ridiculed the WSJ last July when they said AAPL was overpriced at152. And I know from a fundamental standpoint, there is nothing wrong with the story, and the iPhone, and the iPad, and the Mac are still must have products, but every pimp on CNBC is now touting AAPL at 240, but where were they 200% ago, when they were really giving this number away?
All these stocks are now favorites of the market, all loved, all tipped and all touted. But none of these touts would show their face on CNBS when these stocks were cheap! The charts look great, the fundamentals are getting better, and they still don't have any distribution yet. But institutions can't sell their position in one day. It takes time. So if anyone wants to lighten up, they'll have to bleed stock into the buyers.
Today, with a straight face, Goldman Sachs came out with their annual report and said they didn't trade against their clients.
Today, with a straight face, Greenspan came out on Capitol Hill and said that they never favored any banks.
So today, with a straight face, I sold some stocks.
I just couldn't take the bullsh*t.
Posted by Palmoni at 10:26 PM