RawGreed evening market update

Posted on December 1, 2005 , filed under Stocks | Print This Post

Today the market closed up and I have recovered all of my losses from the beginning of the week. The market hasn’t experienced the reversal I spoke of earlier. Unless the market drops aggressively tomorrow, I am expecting that we will have a strong rally this December. Historically, December has been a strong month for stock gains.

MBAY, MediaBay Inc., volume has failed to jump up. I believe that MBAY will release news of the traffic jump for www.soundsgood.com and the partnerships the company has in place very shortly. I am guessing the company is waiting to see if traffic levels remain steady for soundsgood.com. TSM, Taiwan Semiconductor Manufacturing Co. Ltd. and UMC, United Microelectronics Corp. jumped up today. UMC is trading from far behind its one year high. If the market continues to rally, we should see UMC reach $3.25, BIDU reaching low $80’s and GOOG passing $420 tomorrow. I will short 200 shares of BIDU if the stock reaches $84 tomorrow.

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