MARKET IN CORRECTION

6 distribution days on the DOW and S&P, with back to back days has changed the tone for this market. Also note the one day change leadership stocks. What a difference a day makes. Now is the time to get out and raise cash.

Solar 2.0

Last Thursday, Energy Conversion Devices (ENER) busted out on its highest volume ever. The pictures can tell you why. Not only are these modules frameless, they are easier to install, and work in indirect sunlight. I loaded up on this today, but am am expecting pullbacks into the 50-52 range.

Sick Bay on the Enterprise?

Nope. This is Accuray's (ARAY) Cyberknife, and this is now! THis is the world's first and only radiosurgery system to treat tumors ANYWHERE in the body. While the product is very cool, it's stock is yet to see any love from Wall Street, but it does look to have bottomed out. I would keep this one on the watchlist as it does have the qualities of a potential winner.

Following the smart Money - RIMM

 

 

Investors Business Daily published their special mutual fund report and noted RIMM as one of the top buys by top performing managers, including my favorites CGM Focus, Fidelity Contrafund, and Janus Twenty. I tend to agree, and the reason is their upcoming Blackberry 9000 phone. While specs are yet to be announced, enthusiast sites such as www.crackberry.com and www.engadget.com  are already getting excited about its features. It looks as if this is more than an update. Look for 3G, much improved graphics, and desktop like web browsing capabilities.

 

As for the stock, it has been trending up but on low-ish volume. The price has good support off the 20-day, but I would look to buy on a pullback.

Are the retailers for real?

With unemployment, $4 gas, inflation on the rise, and everyone talking about recession, why would the retailers be in their own quiet bull market. The anwser? Because it is. That's the market, it's always right and people who try to make sense of it are usually wrong. So, go with the flow ... of the market. My favorites here are URBN on a breakout above 35.37 and BKE @50.50.

The Gilmoreport.com and 21% in 2 week!

If you're a William O'Neil follower, then you probably also know Gil Morales. If not, brace yourself. Gil has audited returns are in 10,000% range, he was recruited by O'Neil himself to manage and his personal portfolio and provide consultating to top mutual fund managers. Recently, he started a newsletter service to the rest of us. I've been very busy culling over every issue sponging in as much as I can. This has resulted in a 21% gain in my portfolio in 2 weeks! Check it out at www.gilmoreport.com