The past few days have reinforced the idea that a winter rally is taking shape. After impressive gains last week, the indices were widely expected to give back a little this week. Instead, they’ve clung to unchanged, a good sign as that is base-building for a move higher.
This morning, following last night’s Cisco report of earnings on target, technology is in a funk. That works to the advantage of those of us looking to build positions in tech for the winter. The only part of my portfolio still waiting to fill is the other half of my Maxtor position. I filled the first half at $3.25 last month. I’m trying to fill the other half at $3.50 this week. I narrowly missed Monday and yesterday. Fingers crossed to fill before it lurches above $4.
I did get into ProFunds Ultra Semiconductor at Monday’s close of $18.09, as always a couple of days early. It closed lower yesterday and looks set to close even lower today. If you haven’t invested yet, you can probably get in a few percentage points cheaper than I.
To see my other ideas, please scroll down to previous articles.
Things may wobble a bit from here, but make no mistake: we’re on an upward trajectory into the new year. It’s still early and you have time to put your money to work.
