Friday, November 03, 2006
Weekly Summary: PXPL = POS
No thanks to PXPL, the portfolio stayed in the black today and finished the week up $813 (0.1 percent). I'm not sure where the market goes from here. I guess if I had to be on one side or another, I'd be in the bullish camp. One thing I'm noticing is that the vast majority of traders were caught off guard by the market rally over the past 2 months and are still sitting on the sidelines with huge cash positions. Others like Trader Tim are still short and praying that the bear has finally returned. The bottom line is that few people that I know were able to time the market rally (and that includes myself) and as a result many of us are still looking for new stocks to buy while others have short positions that they need to cover. Either way that's buying pressure. Furthermore, given that few people think this rally is for real, I suspect we have higher to go.
# posted by Stockcoach @ 4:38 PM 
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Coach, I enjoy reading your blog and have been a daily visitor for 3-4 months now. I bought PXPL at $1.94 on JUL3 of this year. It hasn't worked out for me, but I was in the black for a short while. The newest earnings and guidance are making me lean toward cutting my losses...
steveH
steveH
# posted by 
: 2:09 AM, November 04, 2006
: 2:09 AM, November 04, 2006
I must agree with you. The quarter PXPL just reported has to be one of the worst I've ever seen from any company. It's going to be a tax loss sale for me.
Hi Coach, or should I say "Shadow" :-)
I am with you in the bullish camp, I think the market continues to go higher in the next couple of months. Especially the NASDAQ.
Good luck with the new site,
Rob
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I am with you in the bullish camp, I think the market continues to go higher in the next couple of months. Especially the NASDAQ.
Good luck with the new site,
Rob
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