Tick, Tick, BOOM
January 12th, 2007 by Buck Woodford
Somehow we got another record close in the Dow ahead of the 3-day MLK holiday weekend . The environment certainly didn’t seem that strong to me, probably because the leading stocks were oils & steels — and most of these looked like dead-cat bounces from an extemely harsh start to 2007.
Our ManyPeaks accounts were up slightly for the week.. drug down a bit by our short positions. One stock that should help the short side of our portfolio in the near future is Dynamic Materials (BOOM). We sold more today on this little bounce and anticipate a much steeper selloff.
The daily chart:
Short BOOM
