The first two ideas that I posted on watching, ideas that I went long – Qualcomm and Biotech ETF’s, have now both exploded.

I had no special insight or inside information. I don’t manage a billion dollars and don’t comb SEC filings. I definitely don’t call CEO’s or look at investment bank research.

I look at symbols and price and I do it every day (have done so diligently for 15 plus years – 10 plus as a hedge fund manager). Watching the price action and looking for strength attracted me to the ideas.

With Qualcomm today settling with Nokia and surging to post bubble highs and Genentech getting a bid, one thing is reinforced:

MONEY LEAVES FOOTPRINTS!

For the average investor, following price can lead to big gains.

Just as important for the average investor:

Following news can lead to big losses.

Don’t make this stuff too complicated. Leave that to putz’s like me.

I mentioned BBH (an ETF) and Eric mentioned IBB (an ETF with wider representation) in the comments. I bought both and Twittered the buys last week.

Today, we get a major reason for their strength. Genentech (DNA), the largest component of the index is getting a bid from Roche for the stock they don’t own .

Great – now the French are the leaders in cancer research. That does not make me feel all warm and fuzzy, but the foreign buyouts will continue as our dollar weakens.

If the credit markets improve, expect hundreds of gigantour deals.

I added some shares in July 2007 and still hold it .

I will let Julie do the talking about this one for me on Wallstrip .

Small biotechs continue to show leadership, but as always, they will rip your heart out if they disappoint.

Despite the economic slowdown (or the one they talk about on tv), gas and oil prices remain strong.

Eric just sent me a list of energy stocks busting or ready to bust to new highs…they include UPL, KWK, COG, TXCO (I own it), DVN, CHK, UPL, BBG and others.

Elsewhere, I am adding PPO if it clears yesterday’s high price on the close, a strong IPO that I can’t explain so just read about it. I love reading about membranes in the morning.

As I have been saying for a while, Biotech remains very strong for the most part with lot’s of names you have never heard of on the all-time high list…AUXL (Wallstripped and I own a little still), PHRM, BMRN are a few.

Chinese Medical stocks continue to rip. I guess that makes sense. Check out the wild moves and rides you can have in CMED and CHDX . I need to work them in to my portfolio at some point.

I have been catching up o txaes and other business and lazy with leadership ideas of late so thanks Eric for pointing all these out.

it’s not all bad out there if you own the right stocks.

Here is Gilead’s Google Finance Page .

I have said before that too many eyes are on the old biotech leaders Amgen and Genentech . Today’s biotech group is led by distributors and niche drugs – like Auxilium (one of Wallstrip’s best performers – I am long – and today’s Gilead).

I am passing on new positions right now, but the stock is in an amazing uptrend. Brian takes a look at possible entry points:

What do you think?

Hat tip to my reader ‘Boca Girl’ bringing this wild and recent high flier to my attention back in October. We finally got our hands around an idea and a show for this Wallstrippy stock .

‘Boca Girl’ says it is their diagnostic test for ‘Staph’ infections. They have my attention with all their big medical words on their website . The website is pretty lame beyond that.

Financially, the company is no great shakes but that is typical for most biotech companies. Expensive to own. Risky. Prone to wild rides because of what they do and analysts inability to measure it consistently if at all.

What I do, as I have done with HNSN, CYNO ESRX, GPRO, DSCP (yesterday), QDEL, LIFC and AUXL is take a one-third position and give the stock some room. Now that they are all listed out in order, this must be the most medical/biotech stocks I have ever owned at one time. They have all been good to me, which is even more rare.

Don’t let me down Cepheid!

Brian has a good look at the technical picture and talks about possible entries. He thinks I am chasing it here. Time will tell, but I may be adding a few shares lower. No worries:

Disclosure – Long all the stocks in this post

Anyone who reads this blog knows that I try and stay away from biotech. I own QDEL, AUXL and ESRX, all Wallstripped and ON FIRE by the way. GPRO (also wallstripped) has been the weakest performer in the biotech part of my portfolio.

Onyx is one that I am really considering.

The problem is, we have seen this wild behavior in the stock before back in 2004. The stock stopped this time right at the highs of 2004.

The FDA news flow has been very positive and the war on cancer has never been more important. I am not sure if I should add on this weakness or further strength above $60.

Brian looks to shed some buy/sell light on the stock with his technical look:

I am holding off until I have a little more time to watch the stock action. i don’t mind paying up in the meantime if that’s the price for a little more homework.

If you have some insight, lay it on us.

Disclosure- Long QDEL, AUXL, ESRX and GPRO

There are too many eyes on Amgen (AMDN) and Genentech (DNA), the ‘bellwethers’ of Biotech. ISRG is the new medical/biotech leader (I hate not owning that). Equipment, pharmacy, lifestyle, skin and beauty trumps drugs in this latest medical/biotech boom.

Even Medtronic (MDT) – which I am eyeing IS ON FIRE. It makes sense for them to open some steka and egg fast food joints to promote their heart stents. Better yet. Fly’s Buffalo Wing (BWLD) chain to put some ooomph in stent sales on location.

In the meantime, I have been quietly adding medical and biotech stocks to the point that I am freaked out. It just sneaks up on you sometimes. I am freaked out because I have never felt fake boobies from Allergan (I have no life), actually I felt Lindsay’s freebies, and have never used any of the products of the stocks I own in this sector (see below).

ADN, ESRX, GPRO, LIFC, AUXL, QDEL, CYNO are all stocks that I am long and have blogged about my entries. Lifecell (LIFC) is the only one NOT to be Wallstripped but I have pushed it in the production loop. The above names are all are acting superb. If the biotech boom is for real, the price action is telling you that you can’t just focus on cancer and heart anymore.

I mean ‘tissue replacement ‘ is on fire people. I will continue to add medical and biotech breakouts until I get smacked… which will definitely happen.

As trend investor Andy Kessler talked about it on Wallstrip a while back – this trend is still early.

My stocks are just having some spectacular runs…Navteq, Garmin (Wallstripped), Baidu (Wallstripped) are romping again.

Today I noticed a few of my stocks starting to catch serious breakout bids…Synaptics, AUXL (Wallstripped) and Lifecell (LIFC). Lifecell and Synaptics have not been Wallstripped, but they have been on the Wallstrip ‘board’ and in the production loop.

Lot’s of new breakouts happening still in healthcare, biotech and technology. I don’t buy into the bear talk and recession talk.

As bad as the financials have been, Goldman should be much lower if the end of the world was upon us.

Maybe something bad will just happen, but we are soooo climbing a ‘Wall of Worry’…textbook. Those that have an opinion and not following price are for the most part getting slaughtered or just watching the leaders romp. Good. The watchers and bears become fuel for the fire.

Disclosure – Long AUXL, GRMN, LIFC, SYNA, NVT, BIDU and lovin’ it.

He is an inspiration to biotech and chemical labs around the world.

Fitting that the symbol for the Biotech ETF is BBH (the Barry Bond Holder from this day forward).

Mark the day and get long biotechs.

Disclosure – Long QDEL, AUXL, and GPRO in his honor.

Note: If you buy the BBH based on this indicator, your hoodads will shrink and zits will appear on your back (Enjoy your vacation FLY )

PS – My card is back for sale on Ebay