Sorry for the late delay today, my computer is having major issues. As for the market, I anticipated a up day but the big day comes tomorrow. We have critical CPI data coming out in the morning, so who knows what will happen.
For the day, I bought MPEL. The city of dreams project will be finished in June (image above) and will be a big hit, in my view. I like the stock for the short-term and the long-term and am unsure which I am holding it for but I am holding it. I like it under $5.25 but it's had a monster run.
I also added FAZ, for a hedge, in case we fall of a cliff. In my view, Financials are not "cheap" at these levels. I look at the leader, JPM at $35, and believe it will come back to $27. Until then I will be patient, hope for a pullback, and then buy long-term options and common stock of select finanicals. Banks still have some issues near-term with Commercial Real Estate and consumer credit card deliquencies; however, I think they will earn their way out of it in time.
Lastly, I am holding onto cash and it's painful. I made 2 trades today and it about killed me because I wanted to buy like a maniac. I still think technology is where the growth will be, for the rest of the year, regardless of the grids or CNBC "know it alls" and I will get long tech in SERIOUS SIZE in due time. Don't forget about the old RF favorites that brought us to the game, like NTGR and LOGI, they will be down soon and it'll be time to jump back on em!
I'm outta here - take it easy
sweet place!
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