Friday, July 18, 2008

Late day buys yesterday

EGO - $7.88
AUY - $14.39
SLW - $14.57
DXO - $23.74

Outlook for today:

POG has held EXTREMELY well at the now support line of $954/3 and i'd expect some more sideways action between that level and $970 into next week when we should break through. DGP a buy in the low $24's IMO

Oil went under $130 but I still think we move upward from here. Made a nice attempt yesterday only to get pushed back down on expiration day. DXO a buy high $23's low $24's (especially for medium/long-term holders) unledd you're in the camp that we're heading back down which one week of inventory being bearish I don't think does.

SKF/UYG tricky to pick a side here with UYG running 43% the past 3 days. You'd think a SKF rally is due but the nakes short shares trial rules on financials is to start Monday????? I'm gonna play both sides and if I had to pick, i'd be buying SKF around this $140 level.

As for QMNM, I am still 100% confident in this company but don't want anyone having money in a penny that they aren't willing to lose a good portion of. Just the nature of the game.

Hope you guys stick around today.

Joe

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