The market continues to be choppy; however, oil looks very strong. In premarket, Oil is now at $72, so I believe the FTK shorts are getting scared. I think the short squeeze will continue but as for the stock target, I am thinking $3-$4 range. The news in AMD is encourgaging. AMD seems to be getting it's act together and I think it is going higher (althought many do not).
As for the market, all eyes will be on the treasury auction. The 10yr got over 4% yesterday, which was beyond terrible. The NASDAQ is showing some divergency with the price of stocks relative to the index value, which could spur some selling in tech; however, tech is still my favorite sector.
If you are looking for small caps that can move, here is my list:
CAEI, CTIC, MVIS, and CNXT (yes, for you old schoolers Cramer's tech stock of 2005 LOL)
Catch yall later.
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You seem like you know what you are doing, so here is my question RF: Do you believe the "buy and hold" strategy is over given the debacle we faced last year?
ReplyDeletethe buy and hold strategy is not over but it all depends on what you buy and hold
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