Wednesday, December 9, 2009

Wednesday Afternoon Thoughts

Winter is here and there's lots to talk about in the market.  The overall markets have been see-sawing a bit over the past week, but there are a few stocks on the move that are on my radar screen.

General Growth Properties has continued to climb.  It now appears Brookfield is the most likely partner for them at this point, and the stock just keeps rocketing as more good news is arriving.  We also have plenty of shorts trying to get out.  Shares were near 8.00 when I wrote about it last week.  They touched 11.00 today.  I'm in a very small position at 1.65.  Like many others, I wish I held more.  I could add to my position. 

RHI Entertainment has seen some buying of its shares lately as it seems they may have finally found a bottom.  Lots of volume moving into the stock and while this could just be a bounce off the bottom, these shares are really cheap.  I had an order in around .65 last Friday but didn't get a fill.  I'd add a small amount if shares get back below .70 again. 

I've been growing more bullish as I've been seeing signs the economy is improving.  I'd love to see at least a 10% pullback which would leave me a little more comfortable with valuations, but there are a lot of good stocks out there right now and things are improving, and it may not be the time to get extremely picky as there is a lot more potential upside. 

Disclosure: Long GGWPQ, RHIE


Anonymous said...

Hey are you a professional journalist? This article is very well written, as compared to most other blogs i saw today….
anyhow thanks for the good read!

Michael said...

Not a professional. Thank you for reading and for the comment!

Loved Ever said...

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