If You Want To Take A Flyer, Here Are Two Ideas
Market
Trend:
Weakly up
Market Outlook: Anybody’s
Guess and Gamble
Peter’s Pick:
(
IRSN |
Quote |
Chart |
News |
PowerRating),
(
NRRD |
Quote |
Chart |
News |
PowerRating) (HIGH risk)
Media Watch: 8X8 Goes 4X4
Another
Sunday, another massacre or ambush in Iraq reported
as the lead story in the Los Angeles Times. I can’t help but
think this has got to begin wearing a bit thin on the American consciousness
— as November closes as the bloodiest month since the war began.
This, then, will be the battle on Wall Street for the hearts and minds of investors.
A robust economy threatened by geopolitical concerns and longer-term issues
of a weakening dollar, stock price over-valuations, stubbornly high oil prices,
the squeezing of profits in the supply chain by behemoths like Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating)
and General Electric
(
GE |
Quote |
Chart |
News |
PowerRating), and a feeling that something just isn’t
quite right with the job market.
So will the market sluff all of this off and finish on a high note for the year?
Or slouch into the Baghdad correction basement? Anybody who claims to know the
answer is either a fool or a stock broker (yeah, what’s the difference?)
Of course, this myopia isn’t always the case. Often, as we have reported
in this column, the market trend is a clear one and money is to be made by the
buckets. This just isn’t one of those times. So for ye risk-averse, book
some of those nice profits, sit on some (or all) of your cash on the sidelines
and wait for some clarity.
Peter’s
Picks:
(
IRSN |
Quote |
Chart |
News |
PowerRating),
(
NRRD |
Quote |
Chart |
News |
PowerRating)
The best thing to do is to stay in cash right now. But if you insist on taking
a flyer, here’s a couple of cockpits to maybe strap yourself into. Just
have your parachute ready.
Irvine Sensors
(
IRSN |
Quote |
Chart |
News |
PowerRating) is
showing a strong technical surge. It’s overbought now, but the company
has a diverse set of products. Norstan
(
NRRP |
Quote |
Chart |
News |
PowerRating)
is a corporate VOIP play. It’s showing strongly improving conditions,
perhaps riding the hype of some of the other VOIP stocks.
If you
have a favorite macroplay or stock you would like us to consider in this column,
send an e-mail to peter@peternavarro.com or go directly to https://www.peternavarro.com.
We’d love to hear from you.