Building Positions in 3 Names Today: Garmin (GRMN) Blue Coat Systems (BCSI) and Gmarket (GMKT)

I am adding to the fund's positions in 3 names this morning for various reasons

1. I started a position in Garmin (GRMN) this Monday on the panic selloff, and continued to add later in the week. I mentioned $100 as an important support level (the 50 day moving average). After breaking through this level temporarily Wednesday and closing below it (not good), it recovered yesterday to close a touch above $100. Today its rallying decently (+3%) and looks like it will hold that $100 support. So I am adding onto my position, and this will take Garmin up to 2.85% of the fund.
2. Continuing to build the Blue Coat Systems (BCSI) position on its pull back to its 20 day moving average. The stock was down relatively heavy yesterday as it split 2 for 1. For earlier comments about about Blue Coat Systems click here. I continue to think $50 (split adjusted $100) is a target by year end. Looks like WR Hambrecht was out yesterday defending the stock (click to read the full pdf file) as well. "We reiterate our Buy on BCSI following our recent round of checks which suggest to us that business is on track. We believe the company continues to experience improving success in the Wide Area Data Services (WDS) market with its MACH5 initiative. In our view, Blue Coat has become a meaningful player in the WDS space, joining a small club of players competing over what is commonly viewed as a very large opportunity. Moving forward, we believe the company is well positioned to grow its share of the expanding market while benefiting from continued strength in its core Proxy SG and web filtering business."
3. I cut back Gmarket (GMKT) Wednesday as it jumped up to the mid $26 range. This once sleepy stock has taken off lately in the "Asian mania". With the stock down 7% today, pulling back to low to mid $24s I am buying back what I sold. The 20 day moving average (remember "bucket 2" from yesterday) is down around $23.50 so this seems like a decent place to re-enter as its 7.5% below where I sold not 48 hours ago. If Gmarket can successfully brand itself into Japan and China this name could be significantly higher in the years to come. I am a bit torn on adding more as this name as had a huge run of late, up 1/3rd in a few weeks but in this market momentum begets momentum ....
   

On a side note Mosaic (MOS) is acting very well - I mentioned this as a name I was adding to Wednesday as a stock in a great uptrend that pulled back to its 20 day moving average... remember earnings next Tuesday.

Long Garmin, Blue Coat Systems, Mosaic, and Gmarket in fund; no personal positions