Choppy Day


It was a choppy day but there was some good action around the horn.   NRP which was added today, ran about 13% after entry. We also took some partial gains today in other names.  Biotech continues to perform well for now with the exception of GILD which continues to have all kinds of problems.

FCX did what I though it might do, as it sold off on the earnings miss then roared back. It seems that many of these broken down companies that have reported “misses” are being forgiven because the street thinks the worst is over for these names. It think we will see a similar story when VALE reports this week.

I also added NFLX today. I’m not big on insider buying (most ceo’s wear rose colored glasses), but a board member who knows his stuff, bought 600,0000 shares and plunked down $55 million on that trade over the last few days. Could something be up? Maybe.  The chart looks good and I still believe Netflix has it going on.

The Fed is on deck and we could see some big things out of the Bank of Japan too (bazooka-like) over the next several days.

Stay tuned.

See you in the morning.

Previous Post
Crude Up To Its Old Tricks
Next Post
More Consolidation

Recent Articles