Mid-Week moves

Ok, it's time to prepare.

First, I continue to regret the GILD sale. They had great results and the market is already rewarding them.

Second, I am concerned about AKAM's softness. I suspect this has a lot to do with Yahoo/Google softness as well as no news, so lets continue to wait for earnings next week.

Third, SNDK is recovering nicely.

In general, I like the picks we have. We need a healthcare stock. Also, notice the continued WFMI and JBLU strength. Given the trend in the market, very few companies are getting rewarded for strong results. My strategy with these two is to wait until after earnings and then buy when they get clobbered (JBLU reports tomorrow).

Also, I want to buy ETrade (ET). If I am correct and money is flowing into the stock market from housing, then that means more trading. Online traders should benefit especially with ongoing consolidation. AMTD just bought TD Waterhouse and they will be busy digesting them. I expect ET to make some moves along similar lines. I will wait until the market decides how it will digest GOOG and the Fed rate increase.

In general, I do see the market yet again freaking out over GOOG. A great buy opportunity, I hope.