Now that Big Ben has essentially told the markets, "You made your bed, go sleep in it," volatility is here to stay.
The good is that strong companies will still maneuver through the muck and reach new territory in the market. Weak companies? Investors will have less of a pain threshold for those little puppies who need boatloads of free cash to stay alive. Rough world.
Looking at the charts, here's how I view my A- picks on the shopping list. A bargain is a bargain is a bargain. No sense overpaying for great stocks when they always come back to a decent price. I don't think we'll see AAPL at $128 again soon, but I think it's a buy here. This list may help you (or not), but it will serve as a reminder to myself to avoid chasing a runner! It happened last week when I added more Nintendo at $62. Whoops.
AAPL 135
Middle of simple and exponential moving averages. Pupule says: Strong buy.
AMZN 79
At top of moving averages. Low volume today. Big fight between longs and shorts. Pupule says: Wait.
BIDU 199
Near top of moving averages. Below-average volume lately. Though I wanted to see BIDU come back down to 175, that looks out of the cards. Pupule says: Buy.
CEO 112
At bottom of moving averages. Soft upside volume, but the funamentals and the new deal in southeast China are positive. Pupule says: Strong buy.
[Note to self: If CEO trades at the same P/E as PetroChina (PTR), its PPS would be 124.]
CMG 108
Floating above moving averages. Pupule says: Wait.
CROX 57
Slightly above moving averages. Pupule says: Wait.
FWLT 106
At bottom of moving averages. Earnings next week. Pupule says: Strong buy.
[Note: FWLT traded at 111 in extended hours. Not so strong a buy at that level, but still in range.]
GOOG 516
No longer below moving averages with the nice gains in the past two sessions because of the wireless advertising (cellphone) dimension. Not as cheap as last week. Pupule says: Buy.
GRMN 100
Floating above moving averages. Pupule says: Wait.
NTDOY.PK 58
Just above moving averages, but this stock is so hot that it rarely trades within. I might get more here. Pupule says: Wait.
RIMM 222
At top of moving averages. Tough call here. Pupule says: Wait.
UA 64
Floating above moving averages. Pupule says: Wait.
Pupule Paul is long AAPL, BIDU, CROX, NTDOY.PK and UA.
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