Tuesday, March 02, 2010

Market Talk

It's been a long time since we started looking at the QQQQ as the leading index instead of the SPY but we like how the Nasdaq has regained leadership of the market.

Simply put: As long as we stay over the 50SMA we'll be active in buying pull-backs on strong stocks. Any move under the 50SMA and we'll have to reassess the strategy.

And if we don't pull-back then our favorite two break-out candidates are GMCR and RIMM.

Great interview

Fantastic straight-up talk by Charlie Munger (Vice-Chairman of Berkshire Hathaway) done in the midst of the crisis last year:

Also this video which cannot be embedded.

Monday, March 01, 2010

Market Talk

The higher up the market goes here the less you should chase price. We've had some good opportunity from our list today and in all cases were able to buy on good bases or on dips to the EMA.

We're back into a benign environment where the main strategy is buying intraday dips/bases on leader stocks near break-out levels.

We're long AAPL swing from Friday and are holding that along with positions in AMZN X ATPG CNX X GOOG which we will all swing on good closes.

Update next morning: We sold what was left of our swings into this gap-up this morning.