This Is Why I Am Not Upset With What We Are Doing

  • January 17, 2005
  • Gary Kaltbaum

I am not upset with what we are
doing. We started selling in late December and had a few decent
gains. GOOG, DRIV, SGTL, AVID, GYI, ACF…and
a few smaller ones. Our losses were minimal. I would say the one thing I did not
do was be more aggressive coming out of the election. The market was already
overbought and never came down…thus not letting us in as much as I would want.
BUT…since the beginning of this year, we sold everything and made a little
money on the short side. The rest of the world has been blasted…especially in
the high octane stocks that have been pummeled. Again, I made the right call but
did not get aggressively short. Methinks I will have to play my calls more
aggressively.

I think there is a chance the market has put in a
near-term low. Wednesday’s reversal up may have done the job. I just don’t think
we are going to have an “A” rated rally as tooooooo many stocks have been
bombed. Therefore, expect less and less stocks to carry the day. Expect more
split action.

We made over 20 points the last time…Put a buy on
GOOG moving above $203.64…remains strong.

Buy AMT moving above $18.99.

Short MU breaking below $10.95.

Earnings come out in droves starting Tuesday…stay aware
as many stocks will change course.

Gary Kaltbaum