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From The Trading Turret
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From: R.A. Christy
Editor, ‘From the
Trading Turret’
President/CEO, Christy
Investment Group
http://www.christyinvestments.com
Date: May 12, 2007
Current Field Position:
OFFENSE
Bullish Percent NYSE:
Xs @ 74%
Bullish Percent OTC: Os
@ 50%
Bullish Percent Option:
Xs @ 78%
This week’s
comment …
Wow – what a week.
I made it back from
North Carolina intact and am glad to back in the saddle. The market this
past week was a real challenge. The Federal Reserve left interest rates
unchanged for the 7th straight time at 5.25%. The market
responded with a bout of indifference.
The market’s overall
response was to take things in stride. I am concerned at the light
volume. Most of the gains came about as the result of lighter than usual
volume. This may be a warning shot across the bow of the ship. Normally,
you want to see 3 digit gains on good volume.
The slight correction
that we had was orderly and had the feel of a normal corrective lull -
nothing more to it than that. The talking heads over on CNBC were
fretful thinking that any triple digit red number may be the beginning
of the end. Their exuberance is a sure sign that the current uptrend is
long in the tooth.
The sector bell curve
has moved further to the right and now stands at 64.27. If you want me
make a copy and send it to you, just let me know. The five sectors with
the best risk/reward profile right now are Biomedics, Textiles/Apparel,
Internet, Telephone and Aerospace. This is where we’ll be looking for
buying opportunities.
My subscription website
–
http://www.long-short-trader.com is still missing in action. The
host company’s servers are on the fritz and I can’t get to it. Please be
patient. I hope to have it back in no time. Until then, I’ll keep you
updated via individual emails. If you’re not yet a member, feel free to
follow along – maybe you’ll like what you see and join us.
In order to save some
time – I am going to make the following trades on Monday morning.
Sell AK Steel (AKS) –
we bought the stock at 21 and there’s an offer for the company rumored
to be in 35-37 area. It’s time to book the gain.
Sell American Eagle
Outfitters (AEO) – we bought the stock at 19.76 and it’s backed into our
stop at 28.50. If you’re not stopped out, pull the plug now.
Buy Aeropostale (ASO) –
I still like the retailers and it’s the strongest name in the sector.
I’m going to buy it here and use a stop of 39.
I’m going to add 4 more
or so, once I sort through the mess on my desk.
If you have any
questions or comments, please feel free to get in touch with me.
That’s about it. Have a
great week!!
RA Christy
The Stock Trading
Advisor
P.S. Please fee free to forward this to your peers, friends and
associates you think would benefit from its contents. They will thank
you for it - and so will I!
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own copy of ‘From the Trading Turret’:
http://www.christyinvestments.com
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R.A. Christy is a
professional stock trader, money manager and author. Mr. Christy is the
President CEO of Christy Investment Group, Ltd., a registered investment
advisory firm. He is also the Managing Partner and Portfolio Manager of
Plato Advisors, LLC. At the time of publication, Mr. Christy may from
time to time write about stocks in which he, Christy Investment Group
Ltd or Plato Advisors LLC has a position. In such cases, appropriate
disclosure is made. Under no circumstances does the information in this
column represent a specific recommendation to buy or sell stocks. Mr.
Christy appreciates your feedback and invites you to send it to
rac@christyinvestments.com.
To learn more about the
Stock Trading Advisor, be sure to visit:
http://www.long-short-trader.com.
The Stock Trading
Advisor
c/o Christy Investment
Group
P.O. Box 625
Alpharetta, GA
30009-0625
To unsubscribe or
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online:
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by fax: 1-678-302-4348.
© Copyright 2007 RA
Christy
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