Monday, May 05, 2008

Monday morning comments

Jotting down some notes on what I am seeing in the markets......

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Looks like there are some bottom fishers in YHOO hoping for a revival of the deal, as YHOO traded in pre-market at around 22, opened at around 23, and has steady risen to its current price @23.9.

The leaders are leading the market: RIMM, AAPL, GOOG, MA, V are all acting strong. Yeah, the strong market-wide action means we might not see Visa Inc (NYSE:V) drop below 80. I might have to look for a new entry in Visa Inc (NYSE:V).

The shippers is one sector that is in an uptrend - NAT, FRO, EXM, DRYS, TBSI, GMR are all acting strong. I've only started watching the shippers again, and am not sure when and where to buy them yet.

There was talk of a market rally in the fall, but the way things are going, we might be seeing that rally right now. BPCOMPQ is in a sweet uptrend, New highs are outnumbering new lows, market interals are healthy. Oh yeah, and VIX is trending down, which means investors are no longer as scared.

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