Friday, December 14, 2007
Santa... you on schedule?
Of the original Santa stocks, TXN, QLGC, CCMP and MSFT only Mr. Softie was retained in the face of the profit taking urge. Yesterday I bought back QLGC (must hold noted support) however, added TEO above a cluster of support (which again must hold or I say goodbye) and PVX because how much worse can NatGas & the CanRoys get? Collecting the dividend will help as we wait to find out. Maybe it'll get a lot worse, but I am not buying the deflationary spiral into Armageddon economic crash scenario in case you have not already guessed. I do buy the 'we're locked in to inflation, inflation and more inflation as far as the eye can see' scenario however. Hence, core gold miners are retained and held tight. As always, cash is well on hand as well. Edit (12/17 @ 11:24) Ref: comments to Doug, here is the SeekingAlpha article that cast some considerable negatives on FTEK. Insiders are buying and this could be an amped up short attack, but the author calls FTEK "massively overvalued" and as I have written several times, the valuation certainly is the kind Cramer seems to like to recommend but Fuel Tech is now far from the undiscovered gem I used to know and love.