I didn't post any yesterday because honestly there was nothing to write about. The markets have performed well of late, but now we're kind of in the middle area where stocks could continue to rise or they could sell off as some of the recent gains are digested.
Over the past week, stocks have gone from being big oversold to possibly big overbought...remember, I am firm believer that this is not a buy and hold market, and the only stocks that one should buy and continue to hold are special situation stocks, like acquisition candidates Etrade and Yahoo, or stocks that are trading ridiculously below book value or pay high dividends (Sallie Mae or a Verizon).
Speaking of Sallie Mae, I've completely sold of out of the stock for a small gain, but I continue to own Etrade and Yahoo as both will be bought by other companies soon...in fact, if either stock sells off over the coming week(s), I would look to add to both. I also continue to own KKR Financial b/c if pays a 9% dividend yield.
So, where do we go from here? Personally, I have no clue and I would err on the side of caution.
