Monday, January 29, 2007

Where's my money?

Is billion the new million? Ok. I’ll be honest. When it comes to anything involving a billion, I’m interested. Not because I want to know WHAT it is, but how to get my greasy paws on some of it. And if it doesn’t involve me, well, I really couldn’t be bothered, just because everyone seems to be tossing out billion like it’s worthless. Youtube, here’s a billion, Ford, lost a billion…

So when the market failed to perform despite some billion-dollar deals (Merrill Lynch to buy First Republic Bank for $1.8 billion, and Citigroup to buy Egg Banking for $1.13 billion) I can completely understand why: we can’t get our paws on any part of that billion dollar pie. Well, unless you owned shares of those bought-out companies.

But I didn’t.

And chances are, you didn’t either.

So. Here we are, a real snoozer of a day in the markets. Market traders hung out on the side and would probably jump back into the frying pan once the FED meeting starts up. Hopefully this will ignite some sort of movement that would propel the markets to sling out of this quite boring trading range that we’ve found ourselves in.

In the morning the markets were hovering at around 0, then midday, the Dow was touching 50-point increase, only to fall back down to close to 0 by trading close. This anticipation for a meeting almost reminds me of the anticipation for Clinton’s impeachment procedures to begin.

Well it’s Monday folks, and you know what that means. Actually, you don’t because this is my first installment of the series. Without further notice, I bring you:

Ace Marine’s Hot Stock Mondays!

I’m a big fan of horse racing, and Ace Marine is a famous Thoroughbred inducted in the Canadian Hall of Fame. How this segment works is similar to horse racing, well, kind of: I’m showcasing three charts (plus a wild card), and at the end of the week, we’ll examine which one won, and why. These charts were found from a preliminary search (short term technicals), and look poised for a bounce, based on these technicals, only – NOT based on support/resistance, price patterns, or whatever. Basically, I don’t even look at the charts prior to posting them. I just choose three random ones from the list that is outputted based on a few technical criteria. Then, the comment section is open to discussing which company will win, based on percentage gain, but you must post why as well.

On Friday we go over our technicals, and discuss the winner.
So this week's four star horses are:

CAL (closing price: 42.89, 1/29/07):

BELM (closing price: 7.37, 1/29/07):

GTW (closing price: 2.09, 1/29/07):

The Wild Card:

Remember, to get a closer look at the charts, click on them, and you'll see a much larger version.

Let the races begin!

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