"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

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.

5 comments:

  1. Gary,

    Does FTEK have your attention after last weeks price drop?

    Doug

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  2. It does now Doug. Thanks for the heads up. As I recall, this area was near my hoped for target for buying. Will have to check out the situation a bit closer.

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  3. Doug, on initial look, things are sure interesting; both good & bad. The stock is near what I had considered a good buy target. Insiders are buying and have been buying from prices higher than current level, and it is a quality company. But it is no longer the company in the [lack of] competitive enviro it was when I first discovered it a few years ago. Here is an interesting SeekingAlpha writeup by someone who is short the stock:
    http://seekingalpha.com/article/56348-fuel-tech-or-fool-s-tech-valuation-suggests-the-latter?source=yahoo

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  4. sorry to hear you bailed on TEO dood. LT holding doesn't hurt here...the funnies good.

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  5. Broke the support I had in mind and I am not as interested in the funnymentals my esteemed friend in LatAm. It was a chart thing. I was by definition a weak hand. Raising cash for what I really know and where I can be strong.

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