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Stock Market Still Has Legs

8/10/2008 8:13:58 PM

Hello Everybody

To learn more about my Fat Pitch ETF Advisory, please click here.

Trade Actions:

None this week. I am comfortable in a 4-position holding. Leaving 6 positions in cash. Remember this is a 10-position account. I probably should have closed out the inflation hedges, but we will hang in there for now. Gold, Nuclear and Biofuel are long term holds.

Market Outlook/Potential Opportunities:

Not sure about the market right now. I cannot be bearish here but I cannot be bullish either. Should be a trading range with a lot of volatility. I know that I have been saying this for a month now, but this has been the case. Since I have been saying this, the S & P has only gone up 60 points in a very volatile market. Very tough to play. The market should move up for another couple of weeks but there is too much risk after that of it moving back down hard. The 4 positions we have are longer-term holdings with Global Water leading the way.

Current Long Portfolio:

Long CGW Global Water @ 25.55

It closed at 23.69

No Stop

Long GLD (Street TRACKS Gold) at 90

It closed at 84.43

 

Long NLR Nuclear Energy @ 32.59

It closed at 28.45

No Stop

Long FUE Elements BioFuel @ 10.0

It closed at 9.76

No Stop

Current Short Portfolio:
None

Recently Closed Positions

Bought GDX (Market Vectors Gold Miners) @ 46  

We sold for a loss @ 42

Bought FBT Biotech @ 23.2

We sold for a profit @ 26.20

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Thanks Bill

If you wish to contact me bill@stockbarometer.com.

 

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