Thursday, February 9, 2012

Time to chill out

Well i have put on some more long positions, but at these levels with current uncertainty, that is pushing the limit of sanity with just any stock.  ORLY just reported earnings yesterday; another great quarter.  With the exception of being a touch vague on comp store sales, all was great.  As for QCOM, well, gosh i couldn't resist.  I may pay for that.  The only other stocks that look good  (other than adding to some i already own), are CASY, FCFS and KOG.  Whether i add to any or enter one of the other three will have to be based on something other than what i am seeing in the market right this minute.  I'm not saying this run is over, not saying we are in for a fall, just saying i need to let things develop more one way or the other.  We are touching significant resistance levels in the S&P currently, and believing we don't stand the risk of reacting with a pullback of a percent or more would be reckless.  That being said, the market is showing rock star strength; hanging in there and showing that the trend is still to the upside.  Bottom line, i'm chilling out.

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