Still Around
I know I haven't posted for awhile; I'm in a wait and see mode. I haven't made any new trades since the J Crew purchase. The defensive stocks appear to be working right now in particular the big cap biotechs and pharmas. All of the major pharmas broke above their 200 day moving average and are now consolidating a bit. There's more to go for the pharmas. Even the biotechs are starting to behave well. For example Genzyme (Ticker: GENZ) just broke above its 200 moving average. And don't forget tech companies like Apple Computer (Ticker: AAPL), which also just broke above its 200 day moving average. Yep! I'm eyeing Apple Computer once again for a short term trade. Overall I like the tone of the market; there's definitely a shift towards the more defensive stocks. The following companies in my portfolio: MasterCard International (Ticker: MA), Invitrogen (Ticker: IVGN) and Qiagen (Ticker: QGEN) will be reporting this week and early next week. I think Invitrogen has the best chance for a big pop in stock price. The market is pricing in a so so quarter from Invitrogen, but I think any hint of good news will send this one up.