We should be bullish on technology as capex spending has been week for past 2 years and companies need to spend on technology to stay competitive. The numbers of the tech companies might not get affected for next 2 quarters. AAPL and GOOG have low forward P/E. On the other hand CELG trades at 333 P/E, GENZ at 429 and ERTS at 129. Tech is wildly under owned. People will get back in big hurry. The market action in DELL has been encouraging today. It is not a bad company and is set to trade at $30. People need to get out of the short side. The Ultimate tech play of the decade is GOOG. There is a lot of user generated content out there and ADBE is one of the ways that is being done. AAPL and ADBE look fantastic on the charts. Also RIMM is great on technical basis.
Retailers to own (which do not whine about gas prices) include TIF - benefiting from weak dollar, SKS - destination for Europeans, COH and RL. Also included in the list are NILE and LVMH.
Some small cap and lightly traded biotech stocks to watch PARD (colon and lung cancer drug), GPCB, PHRM and SPPI (developmental drug for prostrate cancer). BIIB is a takeout candidate.
JCG surged 8% in after hours trading. PALM released Foleo which is neither a handheld nor a laptop. Instead it is a big device which nobody on Fast Money likes. LGF is not an earnings story instead it is a studio, massive library of films, and intellectual property play. KFT is play on food. Ethanol stocks are a wreck and downgraded by BAC, this includes PEIX and AVR. They have negative ROE. T's CEO showed interest in international acquisitions.
CLF has moved higher over one week especially today. It is still a buy due to take over and also businesses. PCP was added to S&P500 today, hit 52-week high and is a buy.
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