The shorts seem to keep pushing on any weakness and buying on any strength. That wrong leaning seems to prop up tech in particular. It seems the very popular long-energy/short-tech setup in the hedge-fund world is slowly but surely coming undone.
I've put a little money to work through longer-dated, slightly out-of-the-money calls, including buying Microsoft (MSFT - commentary - Cramer's Take) and a little Adobe (ADBE - commentary - Cramer's Take), as my scaling continues.
And what's with News Corp. (NWS - commentary - Cramer's Take) running nearly 10% recently? I'm not buying more of that one -- just wondering why it's suddenly got legs.
At the time of publication, the firm in which Willard is a partner was net long Microsoft, Adobe and News Corp., although positions can change at any time and without notice.
P.S. Will you be there when Cramer makes his next move?
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Cody Willard Blog Another Apple Day 1/10/2007 9:14 AM EST The only safe sector seems to be tech.
Cody Willard Blog Misplaced MacWorld Pessimism 1/9/2007 4:29 PM EST Apple certainly helped the day end well, but the rally was broader than that.
Cody Willard Blog A Wild, Choppy Ride 1/9/2007 2:58 PM EST Tech seems to be leading, but semis can't muster much strength.
Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.
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