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Wednesday, July 19, 2006

More Mojo Needed

28_6We've have some follow-up after yesterday's reversal, but overall it looks a little too artificial in nature (i.e. more short-covering and profit-taking by the bears). I'm not complaining since I too have money on the line but I'd like to see even more mojo.

With big thunderstorms rolling through the area this morning, I've been doing very little other than monitoring my watchlist. It is interesting (and useful) to see which stocks lead and lag when we see these kind of rallies. Just curious - does anyone have a clue to where FortuNet (FNET) bottoms out? Recent upgrades by the analysts who follow this firm have been no help.

Bottom line - how we close out the day is much more important than the strength we're seeing at the moment. It will also be interesting to see how the tape moves after Bernanke shuts up.

Posted by Kirk at 11:47 AM in Analysis | Bookmark | Feeds | Link |


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