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Be Selective on Any Rise

Published on November 6, 2007

Be Selective on Any Rise

November 6, 2007

(for details pls visit www.OptionPundit.net)

BE selective should you decide to jump bandwagon. I didn’t find anything convincing other than a technical rebound so I would rather be careful. I generally look for 30mins “dust settle” time before making a decision (exception do exist).

  • CROX did wonderful. It will find support in $40 area and may bounce with a overhead resistance around $45.
  • Gold has been on the rise for long. It may find temporary resistance at around 850-870, an all time high achieved in 1980s, not before that.
  • Be on lookout for XFML, announce great set of results and increased the guidance. Only one of the few chinese stocks that are trading well below IPO Price. I am long XFML and you may read more for my perspective on this, why?
  • MA was under pressure y’day due to whole financial sector (but didn’t lose much). I expect it to bounce with the market’s rise. $195-$198 is a breakout area.
  • ADM beats estimates, so gap-up.
  • Oil is up and so is gold. Metal stocks may shine (BHP, FCX, PCU, XLB)

Cheers and have fun, profitable trading, OP

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