A few speculative and mo-mo names are up strongly in this down market. Emcore (EMKR - commentary - Cramer's Take) is up 15% today on top of a big move yesterday. There's been some minor news about new contracts, and the company juiced its stock further by hyping, er, announcing a tiny investment in some alternative energy venture. I owned Emcore for a good while in the past few years, and the company did turn a corner and seems to be on the right footing overall, fundamentally speaking. However, I'm sticking with bigger-cap names for now.
Speaking of bigger-cap tech names, Research In Motion (RIMM - commentary - Cramer's Take) is on fire again today. The Blackberry Pearl, which is indeed a great gadget at T-Mobile, is even better at Cingular, where it goes on sale today with new features, including GPS. Two brokers talked up Research In Motion today as well. It's got momentum -- both fundamental and in terms of stock price -- going lately. And momentum can be a trend that lasts for very long stretches.
Please note that due to factors including low market capitalization and/or insufficient public float, we consider Emcore to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.
At the time of publication, the firm in which Willard is a partner had no positions in any of the stocks mentioned in this column, although positions can change at any time and without notice.
Cody Willard Blog Green on the Screens 11/30/2006 9:04 AM EST It's still a bull market, but there are cracks in the armor.
Cody Willard Blog Caution as the Character Changes 11/29/2006 4:28 PM EST It may be a temporary, gentle rotation or the beginning of something more bearish.
Cody Willard Blog Why Fight Inventory Gluts? 11/29/2006 3:26 PM EST There are other names without associated risk.
Cody Willard is the manager of a hedge fund and a contributor to the Financial Times and VON Magazine. He is also a regular guest on CNBC's Kudlow & Company and an adjunct professor at Seton Hall.
He earned a bachelor's degree in economics at the University of New Mexico.
Willard appreciates your feedback -- click here to send him an email.
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