Let The Good Times Roll
January 4th, 2006 by BWV
Although yesterday afternoon’s frantic pace has calmed, we still have positive market action today. That’s great and all since I’m very (90%-ish) long.. but it cuts both ways.
Ideally, the indicies chop sideways for a day or three.. continuing straight up will likely mean a less powerful, less lasting rally.
Even with sideways action overall.. there are enough pockets of strength to easily keep one’s capital occupied. If this keeps up, our biggest “problem” will be turning down one good looking chart in favor of another.
Some recent winners - Oils and Gold - are taking a rest.. though Oil Drillers and Service companies are making another run. I gotta do some shopping in that group.. Nabors (NBR) is the only one we own right now. I know that one of my readers will be pleased to hear the positive prognosis for this stock. 
Decent volume today, and looks like it’s gonna make new highs soon.
Long NBR
