Wednesday, August 1, 2007

Up and Down

I'm not liking what I see short term. The market is seeming to be held up each day by a few strong earnings announcements, but what happens when earnings season is over? Lots of stocks are trading hard to the downside, especially stocks with that led the charge over the past three months.

People are pulling money from oil stocks like crazy in anticipation of crude oil prices dropping. This is understandable. Lots of money has been made on these, and people are protecting profits.

There will be good chances to get into these names with strong prospects for the next couple years, but I'm not buying yet. I think its best to hang tight.

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