Thursday, May 27, 2010

Two Week Outlook

Since there's nothing else going on in the market today went ahead and fired up the scanner early.  If the next week brings us selling back into the 9800-9850 level on the DJIA I will be awash in a sea of favorable chart setups.

As such, I used the news that NEP insiders are stepping down to book a 10% loss in LPIH as well as thin the herd elsewhere.

The preliminary angle on this play will be to participate with call option ladders as the move should be sustained, but probably not breaking to new 52 week highs.

If you've read this blog before you know that I am steadfastly and unapologetically bullish Uranium and the nuclear renaissance.  The supply/demand fundamentals for uranium are so favorable for price appreciation that it's almost scary.  We have seen the results of secondary dumping before, though, with gold during the early 2000's.  I feel that the USU news of capital injection through B&W and Toshiba should finally give the sector some much needed skeptical analysis.  My favorite pure play uranium miner is DNN.

Finally, I put a counter at the bottom of the blog 2 days ago.  Total unique visitors subsequent:  5.  Now that I know no one reads it anyway there is something I have to admit because the inherent gayness has been bothering me.  When I'm having a shitty day, like rad shitty, where the blood pressure meds fail to knock down the visible pulsing of my carotid, there is a playlist I have made on Grooveshark consisting of the following:  Major Tom (cover) by Shiny Toy Guns, Your Latest Trick by Dire Straits, seven songs by the Celtic Women(!), and concluding with Undisclosed Desires by Muse.  It's like fucking Unicorn Planet in my office, but know what?  After the play list is finished, I feel better.

I'm thinking about taking a shot at RCL on the short side later.