Friday, May 6, 2011

Some Things I'd Like To Do

1. Short the Erie Indemnity Company (ERIE), an insurance company with an Apple like chart.  It's priced too high-- yield is under 3%.  The chart looks like the stock is beginning to roll over.  I can't do it for several reasons especially the low average daily volume of about 30K shares.

















2. Deliver some really disgusting coffee or pizza to the analysts at Stifel (an obscure brokerage house) for downgrading Fifth Street Finance (FSC) today.  Yes, I know, like the TSA gropers, they're only doing their job, but FSC was down 8% for the week and that's painful.  It seems like everybody wants to take a shot at FSC these days.  The fat dividend will help kill the pain we may have to endure with this one.

3.  Buy Eli Lilly (LLY).  The chart is favorable and others in the group like Bristol Myers are also moving up.  But LLY would have to be a whim on a short leash.  We'll see Monday morning.


















4.  Buy the Indonesian ETF (IDX).  We owned it before and sold on Feb 16.  It's gone up ever since.  So buying IDX is both good medicine and good training.  I thank Trader Mark for the reminder.  Monday we'll go shopping for IDX.
 

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