Sep

30

MarineMax taking on water

September 30, 2007 | Leave a Comment

Shares of MarineMax (HZO), the nation’s largest boat retailer, have been taking it on the chin this year as the stock has dropped 40 percent year to date. The company, whose chains sell the popular Sea Ray and Boston Whaler brands as well as a number of higher-end yachts, has expanded aggressively since being founded in 1998, but the pace of expansion may become questionable over the next few quarters as the market for pleasure boats continues to […]

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Sep

28

Daily Market Wrap 28SEP07

September 28, 2007 | Leave a Comment

Today was a pretty quiet day for the market, as it appears the big boys were content to let their portfolios close the quarter as is. That could mean some extra volatility next week as funds reposition themselves with secrecy (at least for a few months), so it will be important to watch the leading and lagging sectors next week for a glimpse as to what funds are buying anew.

I made two small moves today. First, I decided […]

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Sep

26

Aerovironment poised to fly higher

September 26, 2007 | Leave a Comment

Shares of Aerovironment surged 8 percent today, continuing to show impressive strength in the midst of a broader rally in defense stocks. I’ve been stalking the company for a while, and sensing the strength I decided to open up a sizable position this morning at $22.97.

Aeroviroment is one of the most exciting companies in the defense sector, as it is currently the exclusive provider of small, backpack carried unmanned aerial vehicles to the U.S. military. The company currently […]

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Sep

26

Portfolio rotation: AVAV, GS, CHCG trade alerts

September 26, 2007 | Leave a Comment

This morning I decided to significantly alter the composition by making a few quick moves. First, I added a sizeable position in AVAV early this morning at $22.97. I will withhold my comments on the stock for a later post, but this is a very interesting defense play that is showing very strong action of late.

Additionally, I decided to sell my entire stake in GS and rotate the position into CHCG. This was simply a case of […]

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Sep

24

Daily Market Wrap 25SEP07

September 24, 2007 | Leave a Comment

Today was a pretty quiet day on Wall Street, with the focus continuing to be on currencies, metals, and oil for the moment. From an oil standpoint, we saw a bit of a pullback today, but there certainly seems to be a bid under the commodity. At present, it certainly seems that any weakness will be short-lived, but we still need to be patient and allow some of the support surrounding Ahmadinejad’s upcoming speeches to fade out of […]

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Sep

23

Quick notes on Goldman’s quarter

September 23, 2007 | Leave a Comment

I’ve heard a lot of blasphemy surrounding Goldman’s recent quarter, so let’s set the record straight:

1) Regarding the sale of Horizon, Goldman is being accused of making the sale to offset credit market weakness. Two points: first, go ahead and take $900 million out of Goldman’s income for the quarter. Guess what, they still beat estimates handily. Second, private equity investments are a core part of Goldman’s business. We are not talking about GE or […]

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Sep

21

Taking profits in EGY on oil weakness

September 21, 2007 | Leave a Comment

This afternoon I decided to take my profit in EGY and sold my entire position at $4.84. I continue to like the exploration story here, but with oil showing some weakness in the afternoon after moving straight up for the last 10 days, I thought it prudent to take my profit and free up some liquidity in the short term. My sentiment is that if oil comes under further attack after the weekend, it could spell a pullback […]

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Sep

20

Market overreaction on China3C creating an opportunity

September 20, 2007 | Leave a Comment

Investors in China3C (CHCG) have been taking it on the chin in the last few weeks as the company announced that financiers decided to abandon a recently agreed upon PIPE in the company. However, the recent conference call to discuss the issue provided some justification for the cancellation on the basis of market conditions. Specifically, the turbulent market dropped CHCG’s stock price to the point where the investors were no longer receiving a substantial discount for the PIPE, […]

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Sep

19

Daily Market Wrap 20SEP07

September 19, 2007 | 1 Comment

The market showed a nice follow-on rally in the wake of yesterday’s news, with the financials once again showing some strength in spite of less than expected earnings from Morgan Stanley. Interestingly, however, many of the housing stocks gave back some of yesterday’s huge move. With regard to housing at least, yesterday’s looks and smells of a short squeeze. However, with regard to the broader market (including financials), there is definitely real money flowing back into equities.

Oil, […]

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Sep

18

Fed surprise mandates a re-evaluation of the markets

September 18, 2007 | 1 Comment

The Federal Reserve’s 50 point cuts in both the fed funds rate and the discount rate obviously took the market by great surprise today, as evidenced by the wild gyrations in virtually all the financial markets after the announcement at 2.15pm. The surge in equities, with all major indices rising by more than 2 percent, appears to signal something more than simply a short squeeze on the back of the Fed rate cut.

There were certainly other signs that today’s […]

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