A Couple of Buys While We Wait......
Really not much going on in the market to talk about. Yes, the Dow was up again, but it seems to be kind of acting on its own. Even though it moved up more than 50 points, the S&P 500 did nothing and the NASDAQ fell. So it seems the Dow is standing alone as the truly strong, consistent mover.
Looking back, my original short recommendation on Express Scripts (ESRX) was when the stock was at about $92. It has since fallen to about $70. The green shaded area, which I drew a long time ago, seems to have been achieved. That doesn't mean it won't go farther, but I'm proud to point out that the original price target was cleanly reached today.
One of the very few bullish looking patterns I see out there is Cirrus Logic (CRUS).
Another is Chipmos Technologies IMOS (IMOS), which is likewise in the semiconductor industry.
Hopefully tomorrow's Fed announcement will shake off some of this uncertainty. See you afterwards!
2 comments:
I think you buy from IBM and 3M all the time - you just don't know it. You at least provide profit to them through their immense number of patents that other companies rent to do business.
Someone said GM is a "crap company". No, just a company having some problems at the moment. Will it survive? Probably. In its current form? Probably not. But I have a feeling that as long as there is an America there will be a GM, an IBM and a 3M. And they will be around for long after Google, Yahoo, and Ebay have been run off by the next generation tech whiz.
Geez, kids - no appreciation for the beauty of age.
Nice trade on ESRX. Still many others that are shortable.
I think you missed my point - these companies are in everything - you don't see it and their name isn't on it - sometimes the name is ford, chrysler, gm, toyota and everyother auto manufacuturer (also all rail, train and plane manufacturer too). Every pot and pan you have in your kitchen - most of your appliances etc etc etc. The clothes you wear the crap you put in your hair, your specs, your DVDs, your tivo powered TV.
You don't have to believe me - I believe me.
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