I've looked at about 20 names and except for Qualcomm (QCOM) there is nothing I want to add to the portfolio so to increase my technology exposure I am simply going to add even more Research in Motion (RIMM). We added some Wednesday when I wrote
Haven't added to Research in Motion (RIMM) in ages - the chart says it all. We're moving it up from 0.3% to 1.9% of portfolio in the $126s.
So aside from all those myriad fundamental reasons, the chart is looking positive now - if the stock can break through $129, it should be relatively easy going until mid $140s. If it breaks back below $124 we'll cut back the position. This is a nice set up technically since it's not far below to set off the sell point, and the loss would be minuscule.
Today we are adding another large batch and taking this up to our top position @ 4.4% of the fund. This is a chart that screams HAL 9000 is buying me hand over fist. Actually this is a chart even someone in 1st grade technical analysis is buying.
As I wrote in Wednesday's piece I will add to Apple (AAPL) north of $170. Almost there. Most of the other stuff that is running in technology is of the 1999 big cap ilk - they of the 12% growth but 18 PE ratio type. Not that fundamentals matters. I'll have to beat the bushes again this weekend for another technology name - so few have any real growth. Intel (INTC), Dell (DELL) great charts - Google (GOOG) looks like its a coal stock or something.Long Apple, Research in Motion in fund; long Research in Motion in personal account
