Friday, August 21, 2009

Morning Commentary

Market continues its leak north.

Oil looks to be a a breakout point. Gold/Silver up early. If oil breaks out it may be worth looking at some smaller cap oil plays for momo buying over the short term. We have some exposure there with RCON, but there are other ways to play that with past momo oil runners.

It's hard for me to get excited about being long at these market valuations, so I will stay away. But as a trader sometimes you have to trade what you see not what you think.

Also, RINO perking up this morning. The more I research this one the more I like it. If it dips again into the 11's I will add more. I think this definitely gets over $15 before end of 2009.

RCON Update - Apparently this company is ringing the bell on the Nasdaq next week. This could give the company some additional exposure and it wouldn't shock me to see earnings around the same time for max effect. We'll see.

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