AutoNation (AN 9.17) Gates owns 5.5%. Starting to get an itchy trigger finger. Heavy volume today and traded propitiously above $9. Watch for it to fall back to rest on 9 then start to trade higher on heavy volume. No action if it falls back below 9.
Broadcom's (BRCM 27.64) profit quadruples but, like Sandisk (SNDK 13.62) today, the shares are tumbling. Support at 25.75 and current position would be in jeopardy if 25 falls.
Semiconductors performed exceptionally well coming out of the 1990-91 recession so perhaps they'll get shellacked so to produce a bonafide buying opportunity. That opportunity will come only after real pain, blood in the streets, the capitulation that we're waiting for. Then, when everyone is afraid, selling, panicking and jumping from windows it will be time to dot the blotter with buys.
I don't know if that level of pain is in the cards but I'm willing to wait and see.
Chesapeake (CHK 50.98) sell remaining stake if it breaks $50.
General Mills (GIS 64.91) looked good today on heavy volume.
The S&P opened lower and traded around 1260 for most of the day until a post 3:00 rally to close at 1277.
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