11/14 Kelly Letter Topics
Weekly market review
The bottom holds
Big bounce volume
Recession projections
The magic midpoint
LevMark Timer holds
Crocs is dying
Hope for Goldman
Importance of retest
We may very well be at or near the last opportunity to position your money for a year-end rally. I don't know how explosive it will be, but I do think we'll end the year higher than we are now. I felt the same way last year and rode Sun Microsystems up some 64% from October to February. Sometimes the "year-end" rally turns into a happy new year as well. Markets don't watch calendars as closely as we do.
Also, if a rising market keeps taking Google (GOOG) higher, consider shorting it at any time. It's a great company, but at $150 per share the stock has a day of reckoning on the calendar.
To see current quotes on all of the above, click here.
I can't resist mentioning that I'm suggesting buying UTStarcom at a price some 58% lower than the $40 it traded at in January when Kevin Landis, manager of Firsthand Tech Value, recommended buying it. It got as low as $12.59 in September. Now that there is a slew of insider buying giving a vote of confidence, I feel comfortable getting on board.
Maxtor was recommended by SmartMoney in January at a price of $11. Getting it at $4 would be a 64% discount.
You can read more about my watching these two new year's picks in an article I wrote last May.
