While there may be no new long that receives my permission to enter my portfolio, there is no doubt that our two new longs yesterday helped to make today a very nice day. On top of those two new friends in my portfolio, another six of the remaining eight had very nice day’s also. This is a very nice way to end this horrible year of 2008 (my worst year ever with combined accounts resulting in a 15% gain for 2008 PRE-taxes). So there is no doubt in my mind that 2009 has to be better. And if 2009 isn’t the year we turn, then 2010 definitely should be. This is, of course, unless we add even more social programs that we can’t pay for and make other silly moves like raising taxes. Barring these events and a few others (don’t want to talk about them on a happy day) 2009 has to be better. One thing is for sure: one month in the market can make a big difference. For instance, at the start of December we were down to three longs and by the end of the month we had 10. We also entered December with 37 shorts and are now down to 33. Sadly, none of the shorts covered have been (except one: ATHR) a full cover since we went short before the major selloff really got underway. However, new shorts are not working and new longs are. While we do not have the volume on the major market indexes, or the nice to “hot” charts, to hint at a REAL “for-sure” bottom, we still have a short-term and sub-intermediate term rally underway and for now anything the opposite of red is very good. Stocks I am watching for future longs include: EBS ESI HEI MMSI AVAV MFE RNT SJI GXDX FCFS VSAC LHCG MAXY LCI STSI DORM UBSH JJSF PLAB JAG OPTR CTBI IAG ANV SLW FORR CHG ABX FRD MDRX PCBK BTFG CIA TOWN WSBC GB PNFP HOMB NBTB HTS AGNC EPIQ TWGP. Have a Happy New Years everyone!!!
Scottish poet Robert Burns:
Should auld acquaintance be forgot,
And never brought to mind?
Should auld acquaintance be forgot,
And auld lang syne?
For auld lang syne, my dear,
For auld lang syne.
We’ll take a cup o’ kindness yet,
For auld lang syne!
new long positions: none
none
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