GOOG I-Watch

11/10/2005

Nov 10 - Delusions of grandeur?

Naz and Dow nearing resistance but whether they can print new records may depend on MSFT- been waiting 3 years for a break of 27. Plenty of sunny optimism at the annual shareholders meeting but doubt reigns as the softies scramble to reorganize (Ray Ozzie's memo) under pressure from new challengers, and see the return of an old adversary. Predictions of the Naz at 5,000 and the Dow at 40,000 sound senseless and delusional in this climate.

Markets will be open tomorrow, Veterans' Day.

11/09/2005

Nov 9 - Fighting over scraps

SOHU and ACTT big gainers today but safest plays are in shorts. FUEL delivers yet another golden opp, while ABIX and SPOR bleed pools of cash. SANM a model for sustainable gains after a good quarter, institutions grabbing lots of those shares today. Not BITS and IFO. Iwatch shows zero institutional trading in these but some determined traders like toying with IFO's small float.

11/08/2005

Nov 8 - November shorts

Covered NYNY 7-6. No surer contrarian indicator out there than a horde of NY-based shills screaming BUY BUY on the Yahoo board. Guess some Street guys still have to earn that bonus. Finally covered VICL 6-5.70. Shorted BITS 4 and IFO 7.30, both up 30-45% today on earnings.

11/07/2005

Nov 7 - Slow going

More consolidation but plenty of early gains to be had in MFLX, PWEI, SNTO, NYNY. How about that year-end rally? SVNX nearly touched 7 as predicted, now a golden short opp.

Sold MFLX 32-33, ZVXI 11-11, NYNY 7-7, missed the momo. In fact, long was dead wrong for ZVXI and NYNY. But quickness redeemed the day. Shorted NYNY 7 on rumors the contract fell through. Still short VICL.

11/06/2005

Week of Nov 6 - Time to go long?

Short traps in AAPL, FARO, SINA means it's time to bet that history will repeat itself year-end. Naz back above its DMA after having its best week in a year, set for a run at 2200 and the Dow at 10700.

Long ZVXI 11 and NYNY 7 as of Friday. Both momo plays held onto their huge gains on a consolidation day. Also long MFLX 32 a few shares, looking for a breakout.