The Sun’s win streak is halted by the lowly Timberwolves reminding me, and hopefully you, that all trends end. Most times when you least expect and conditions are ripe for continuation.
CROX keeps cooking ( I sold in the high 40’s) , hitting $53 today. The trend can go much longer than the 35 percent short position can stomach, but taking profits won’t kill you on this one.
Sandisk (an iPod competitor),the king of flash is getting hammered, proving once again how hard component plays are to own and trade.
Oil is flying back towards $60 and my awful USO hold is coming back from the dead. Was CNBC not just cheering about $40 oil.
Is Oakley finally getting their act together? It is nearing an all-time high and I am on full alert. I still think their glasses offer the only real iPod competition. I gave up on that stock a while back, but would buy it if it took out an all-time high. maybe they are finally in play? History says that Jannard would never sell and maybe they are just doing well despite themselves and their creepy stores.
The media continues to talk about the ability of this market to continue without a 10 percent correction. One needs to look no further than the banks. The banks are now the dominant component of the S&P 500 and times are really good. It is also a cocktail that can cause one of those circuit breaker days off one derivatives event.
This is just another reminder that taking some profits when things look perfect is never a bad thing!
Disclosure – Long Apple, USO and a few banks