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February 6 , 2007, 7:30am

The S&P 500 index snapped a four-day winning streak yesterday on limited profit taking, and closed at 1,446.99, off 1.40. Wall Street had little reaction to new data that suggests continued economic growth, which could disrupt the Fed's plans to ease the economy this year. The Institute of Supply Management's non--manufacturing index increased more than analysts were forecasting. Since the Fed's decision to hold rates unchanged, most investors consider the move as negative. Don't agree or be preoccupied with trying to figure out which direction interest rates will take. With billion of dollars still on the sidelines, the general market is stronger than most experts believe; just consider the deals being made and considered. Stay focused and consider new commitments based on forward values. On the short side, look for overbought situations, and act accordingly. Maintain flexibility in your portfolio and don't be afraid to take profits or trim losses.

February 5, 2007, 7:30am. The general market tone was cautions, perhaps a bit nervous. Not uncommon during a period when consolidation seem overdue after a steady advance since October '06. Earnings season remains in full swing, and usually bullish strictly on the psychology of investors desiring positive results. Last week they turned uneasy, even anxious that a significant correction would began if quarterly earnings failed expectations. Indeed, Wall Street is aware that earnings growth will be slower in the immediate quarters ahead. Dartline projects that the next two quarter operating profits for the S&P 500 stocks in aggregate may be off by 10%. One would expect that the stock market would decline 10% to compensate for the earnings contraction? Don't panic! For the time being, 1450 is still upside resistance, while 1410 support. Within this range there are opportunities to participate either long or short while remaining consistent to enhance capital without inflecting critical risk. A classic pattern has developed during the last two weeks as traders were simply looking for an excuse to sell, take profits and wait for the market to fall-off. This attitude effects technology stocks and may account for their recent weakness, especially with earnings guidance. Overall, earnings reports were reasonably good; not blowout by any means, just good enough to keep most investors in the boat. Yet, the general response was disappointing. Possibly because the economic data provided further evidence that economic growth remains solid to further reduce fears of a recession or even a sharp slowdown? Thus, the trend in the data and the steady inflation numbers have reduced expectation of any Fed rate cut in the first half of 2007.

February 2, 2007, 7:30am Market liquidity was the main engine to the continuing advance .S&P 500 index was 7.70 to close at 1,445.94. Such momentum had brushed aside January's ISM index which unexpectedly fell to 49.3%, indicating contraction, and ran counter to a Fed directive that showed firming economic growth. The disappointment initially left investors confused and questioned the validity of Wednesday's rally. Again, Wall Street failed to understand that with Fed interest rate unchanged, international stability marked by a moderating dollar and low inflation meant expanding equity values. Confirming the Fed policy was the Commerce Department's report before yesterday's bell that inflation pressures had eased. The core PCE deflator - the Fed's favored inflation measure - was only up 0.01%. While the January data left the year to year increase steady at 2.2%, and a bit higher than Fed would like, the rate of increase slowing over the last three months offered added relief on the market's current focus. Remain progressive, commit funds into stocks which will participate in the upward momentum providing the S&P continues within its technical parameters. At 1450 would be upside resistance and a test appears at hand. Use today to reconcile your positions, remove lagers and take profits on issues that may appear overbought or technically suspect.

... . Purpose of the arrows: - projecting that DJIA, Nasdaq and S&P barometers will close higher at the end of the day. - projected consolidating barometers with limited directional action. - projecting all three barometers declining for the days. .... Our Message Board and "Contact Us" elements are available at no cost to keep you up-to-date with timely information. Our Fantasy Hedge Fund gives you a concise overview of how investment ideas are executed. All transactions are posted on the Message Board

 
View From the Bottom - A roundup of the day's performance

February 6, 2007, 4:00pm ... Day Trader for the day shows a loss of $1,174.00. ... Adjustments to the 60-Day Summary list (1) sold SEED for a gain of $11,500.00. Net realized change for the day in Stocksmirf Fantasy Hedge Fund portfolio ("SFHF") is a gain of $10,326.00, and for the month to date a profit of $168,051.00, excluding unrealized gains or losses.

February 5 , 2007, 4:00 pm. ... Day Trader for the day show a gain of $20,890.00. ... Adjustments to the 60-Day Summary list: (1) sold 20% of call options of CATCY.X for a gain of $60,210.00. Net realized change for the day in Stocksmirf Fantasy Hedge Fund portfolio ("SFHF") is a gain of $81,100.00. and for the month to date a profit of $157,725.00, excluding unrealized gains or losses

February 2, 2007, 4:00 pm. ... Day Trader for the day shows a gain of $41,400.00. ... Adjustments to the 60-Day Summary list shows; (1) sold 10% of call options of CATCY.X for gain of $38,625.00; (2) sold ZICA for a gain of $81,000.00; (3) sold PRGO for a gain of $5,600.00; (4) sold RDK for a gain of $1,100.00; (5) sold ASYT for a gain of $100.00; (6) sold entire position of SCT for a loss of $176,400.00. Net realized change for the day in Stocksmirf Fantasy Hedge Fund portfolio ("SFHF") is a loss of $8,575.00 and for the month to date a profit of $76,625, excluding unrealized gains or losses....

note: Most upsetting was the convolved display of misinformation issued by Scottish Re Group Ltd. (SCT) management and their desire to "steal" the company and offer it at a substantial discount to a special interest predator that had no desire to insure the lowly shareholders receive a fair share of the company's true value. On the 23rd of February, SCT will be given away at less than 25% of intrinsic worth and the collective shareholders will be further deluded. However, since the "new" investors will have a major equity stake, they're major means to enhance value would be to insure the stock value appreciates. From now to the 23rd, management will "bad mouth" the company to push the stock closer to $4.00 per share as a means of insuring the transaction becomes effective. It is difficult to believe that such a tactic had been successfully executed.

.For the fourth calendar quarter of 2006 on the SFHF portfolio. Total performance, including unrealized gains, was $1,027,724.90 on weighted capital of $4,832,125.72, representing 0.2127%. for the period ending December 31, 2006.

*** based on the weighted portfolio value adjusted daily.

 
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best idea

.. . February 6, 2007

... 3:06pm ... BUY Nymox Pharmaceutical Corporation (NYMX) - last $5.40. NYMX has a primary drug known as NX-1207 for the treatment of benign prostatic hyperplasia, which can be a blockbuster application, and should receive attention from a major drug company. Moderate financials, but above average technical staff, NYMX is consider a mid-term high speculation. Yet, the company may have a significant upside and warrants the risk. However, consider the possibility of NX-1207 may have a long term horizon and the company may not have the resources to complete testing. With a float of 14.57 million shares and insider controlling the stock ownership, NYMX may be a takeover play. note: consult with your financial professional before purchasing NYMX because of the high risk component of the decision.

... 1:04pm ... SELL IVAC - last $22.75. Lack conviction that IVAC can accelerate in value in near term. SELL and take profit ahead of earnings.

... 10:18am ... BUY Intervac Inc. (IVAC) last $22.50. IVAC a maker of equipment to build computer disks has substantial increased backlog to enhance values going forward. Excellent management and strong financial statement offers mid-term potential to move into the $25-$27 range.

Ticker
Last Trade
Direction
Entrance Point
Exit Point
IVAC
February 6, 2007
$22.50
*


P/E Ratio: *
Forward P/E Ratio: *
Float Shares2: *
Company Guidance: *
Recommendation3: *
Support4: 21.80
Resistance5: 27.55
Under Accumulation6: yes
Under Distribution7: limited

 
today's action

... DAY TRADER

.. February 6, 2007

... 3:52pm ... COVER SHORT ON POZN - last $17.01..

... 2:04pm ... SELL #2 QSII - last $41.1026.

... 1:47pm ... COVER #2 SHORT ON RATE - last $43.74.

... 12:32pm ... SHORT Pozen Inc. (POZN) - last $16.95

... 12:16pm ... SHORT #2 ON RATE - last 43.90.

... 12.06pm ... COVER SHORT ON RATE - last $43.55. Take profit.

... 11:46am ... SELL enter position of ADBE - last $38.15. Under systematic liquidation as macd deteriorates. Take loss.

... 11:40am ... SHORT Bankrate Inc. (RATE) - last $44.00. At technical inter day resistance after running 5.21 points.

... 11:04am ... BUY #3 on ADBE - last $38.29.

... 10:24am ... BUY #2 on QSII - last $41.03.

... 10:19am ... BUY #2 on ADBE - last $38.64.

... 9:58am ... SELL QSII - last $40.84. Unable to hold support as macd weakens. Take loss.

... 9:27am .. BUY Quality Systems (QSII) - last $40.90 [opened $41.00]. Oversold for instant up move. BUY NOW.

.... 9:10am ... BUY Adobe Systems Inc. (ADBE) - last $38.84 [pre-market] . [opened $39.08] BUY at the market for quick move to the $39.50 to $40.20 range. Under accumulation with limited downside enhanced by recommendation.

February 5, 2007... 12:59pm ... COVER SHORT #3 on RMBS - last $22.42. Take profit.... 12:51pm ... SELL CBRX - last $1.5299. Unable to determine direction. Take profit.... 12.07am ... SHORT #3 on RMBS - last $ 22.95. Failed to hold while volume contracted.... 11:29am ... COVER SHORT #2 on RMBS - last $22.26. Take loss.... 10:49am .. SHORT #2 on RMBS - last $21.60.... 10:34am ... COVER SHORT on RMBS - last $21.55 Improved macd. Take profit.... 10:27am ... BUY Columbia Labs (CBRX) - last $1.42.. Oversold and due to 'dead cat' bounce.... 10:12am ... SHORT Rambus Inc. (RMBS) - last $22.01. After morning's gain RMBS found resistance to extend advance.

. February 2, 2007:... 11:36am .. COVER SHORT #2 on ILMN - last $36.23.... 10:54am .. SHORT#2 ILMN - last $37.60.... 10:03am ... COVER SHORT on ILMN - last $37.05.... 9:45am ... SHORT Illumina Inc. (ILMN) - last $37.75. Even with decline ILMN is under pressure.

.. February 1, 2007.. 12:37pm .. COVER SHORT Under Armour Inc. (UA) - last $47.61.. Up-volume too strong and unpredictable. Take loss... 11:46am ... SHORT Under Armour Inc. (UA) - last $47.15 . Even after declining $3.78, UA is under distribution.

January 31, 2007, 7:30am. No action.

January 30, 2007... 9:42am ... SELL GKSR - last $36.52. Take profit on pre-market trade....9:00am ... BUY G&K Services Inc. (GKSR) - last $18.88 [pre-market] Closed yesterday at $39.18 off 51% after disappointing numbers. Reaction on downside was overblown. With book value of $25.79, proven business model and superior management, GKSR should respond to a "dead-cat" bounce. [not effective - see message board]

 

.... From the 60-Day Summary list

.. February 6, 2007

... 2:12pm ... SELL Origin Agritech Ltd. (SEED) - last $9.05. Originally suggested at $8.82 on 01.29.07. Take profit with view to revisit later.

February 5, 2007... 1:29pm ... SELL call options in CATCY.X - last bid $7.31. Take profit on 20% of remaining position.

February 2, 2007.. 3:34pm ... SELL Scottish Re (SCT) - last $4.66. Reluctant liquidation with intent to revisit later. Taking major loss.... 12:20pm ... SELL Call Options on CATCY.X - last bid $8.00. Originally suggested at $2.85 on 01.24.07, the underlying common stock (CAT) appears to have consolidated. Reduce call options by 10% of outstanding position.... 10:52am ... SELL Asyst Technol (ASYT) - last $6.38. Failed to perform as expected.... 10:40am ... SELL ZI Corporation (ZICA) - last $ 2.38. Originally suggested at $1.84 on 01.11.07. Take profit to revisit later.... 10:27am ... SELL Ruddick Cp (RDK) - last $27.81. Take profit.... 10:18am ... SELL Perrigo Company (PRGO) - last $17.90.. Take profit. ... 9:37am ... SELL Acceltys Inc. (ACCL) - last $6.18. Earnings failed to give ACCL traction.

February 1, 2007... 2:00pm ... SELL Unica Corporation (UNCA) - last $11.59. With earnings due after the close today, UNCA is acting like more bad news is coming. A prudent decision would be to cut the loss.... 12:26pm ... COVER SHORT on Pozen Inc. (POZN) - last $16.75. Take profit.... 12:19pm ... COVER SHORT on Comverse Tech (CMVT.PK) - last $19.49. Not acting like a pink sheet stock, believed further weaken which did not materialize. Take minor profit... 11:43am ... SELL SanDisk Corporation (SNDK) - last $40.24. Take loss. Under selling pressure. Looks lower with near term support at $38.75. ... 11:16am ... [limited] SELL Caterpillar March 2007 $57.50 CALL (CATCY.X) - last bid $7.95. Originally suggested at $2.85 on 01.24.07. Take profit on 25% of position..

January 31, 2007... 3:18pm ... SELL Earthlink Inc. (ELNK) - last $7.35. Take minor profit. ELNK lacks meaningful sponsorship. .... 3:08pm ... SELL Ocean Bio. Chem. (OBCI) - last $3.55 . Take loss. OBCI failed to maintain support and remains under distribution. ... 9:37am ... SELL Spherix Ins. (SPEX) - last $1.85. Originally suggested at $1.50 on 10.10.06. SPEX failed to meet mid-term expectations. Take profit.

January 30, 2007.... 10:25am ... SELL Pinnacle Airlines (PNCL) - last $17.62. Originally suggested at an average cost of $16.48. Take profit with intent to revisit.

_______________________________

Net liquidation value of Stocksmirf Fantasy Hedge Fund (SFHF) portfolio for the period ending 01.31.07.........,....... . $4,217,150.00

REALIZEDGAINS LOSSES FOR THE MONTH OF OCTOBER '06 in the SFHF portfolio ........................ ......... $277,601.00

REALIZED GAINS LOSSES FOR THE MONTH OF NOVEMBER '06 in the SFHF portfolio. ...............................$338,049.00

REALIZEDGAINS LOSSES FOR THE MONTH OF DECEMBER '06 in the SFHF portfolio ...... ......................... $371,020.00

REALIZEDGAINSLOSSES FOR THE MONTH OF JANUARY '07 in the SFHF portfolio .....................................$615,500.00

REALIZEDGAINSLOSSES FOR FEBRUARY '07 TO DATE in the SFHF portfolio...................................168,051.00

UNREALIZED GAINS (LOSSES) in the Stocksmirf Fantasy Hedge Fund portfolio.

February 6, 2007, 4:00pm ... 137,872.92

February 5, 2007, 4:00pm ... 203,529.84

February 2, 2007, 4:00pm ..... 284,254.96

February 1, 2007, 4:00pm ......108,174.00

January 31, 2007, 4:00pm .....080,964.96

January 30, 2007, 4:00am .. .. 000,007.00

\_____________________________________

Prior Dartline summaries ... February 1, 2007, 7:30am . At 1,438.24 9.42 the S&P 500 index closed out the month with its eight straight month of gains. Stocks rallied as investors embraced the idea that continuing interest rates at 5.25 percent is not a bad idea - sounds familiar. The Fed communicated that core inflation had improved modestly, and the U.S. dollar was stable against major currencies. Perfect scenario for further gains in stock prices. However, 1450 remains the deciding factor to keep the market's momentum from consolidating. ... Oil prices tacked on a 2.1 percent gain onto the prior 5.5 percent surge, marking the biggest two-day gain since December '04. Perfect scenario for Middle East money to continually purchase U.S. equities and ensure worldwide liquidity.

January 31, 2007, 7:30am ... ... Not withstanding the breath of disappointments on the earnings front and higher oil prices, the S&P 500 index was up 8.20 and closed at 1,428.82. The x-factor was the renewed enthusiasm for beaten-down oil stocks. All of the Energy sector's 33 components closed sharply higher. Crude for March delivery surged 5.4%, the biggest one-day move since Hurricane Katrina, to closed near $57 per barrel. Higher energy prices keep intact the $150 billion of uncommitted funds to support equity prices at historic levels. . For months we have reported that surplus money kept building up on the sidelines and was systematically committed to equities This massive pile of money had been earned by the oil producing countries, especially in the Middle East., and available for unrestricted circulation. Worldwide equities are more liquid today than any time is history. The only acceptable reason was the new value created by converting oil into a value--added commodity - intangible assets, mainly equities. Therefore, any decline in equities in the near term will be moderate. Continue to search for value plays, and adjust your portfolio for maximum performance. ... On the 29th of January, a suggest to purchase SanDisk Corporation (SNDK) at $42.22 was made with the following declaration: " .... Earnings due tomorrow after the close. Projections indicate $0.75 vs. $0.68 for the December '06 quarter .... Look for moderate bullish remarks." SNDK closed yesterday at $42.83 and in the first 30 minutes in the after-market reached $43.95. Once the full impact of the numbers and comments by management were disclosed, SNDK fell to $38.30, losing 10.58% of its value. Upsetting to us was the lack of candor by SNDK's management to offer preannounce guidance relating to the cost associated with the MSystems Ltd acquisition. When we contacted the company two weeks ago, and asked a direct question about acquisition costs, the response was not forthright. SNDK is a well managed company, experienced and fully aware of the value to keep shareholders informed. To surprise shareholders and the financial community with the extent of "acquisitions costs" was irresponsible. How the stock acted after the close is a clear indication that management failed its fiduciary responsibilities. Here's part of statement posted on Yahoo's message board that underscores the disappointment: "....[T]he worst call I've ever heard from this management team. No pure guidance whatsoever, in particular, none for a full year."

January 30, 2007, 7:30am . S&P 500 index closed at 1,420.62 1.56. In general, the market finished like it opened as investors remained uncertain while 25% of the index's underlying stocks report this week. Today's the start of the big event - a two-day Fed meeting, after which investors will receive the central bank's latest read on the economy and intersect rates. Since the Fed has left short-term rates unchanged at its last four meeting, more of the same is assumed. Indeed,, the consensus has come around to our view - leaving short-term rates unchanged is not a bad idea - and will stabilize the 30-year Treasury note and cause the U.S. dollar to remain firm against the other major currencies. As investors reconcile the new reality as far as the Fed stands, the general market will continue to consolidate without a major decline. However, we must remain vigilant to how the S&P 500 index reacts at the 1410 area. So far so good, as the index has enjoy a solid performance without collapsing. With the level of high liquidity, especially from the Middle East, equities have found little reason to materially decline. Continue to weed out stocks less than desirable while adding to special situations.

Prior Best Ideas ... February 5, 2007....2:54pm ... BUY Thomas & Betts Corporation (TNB) - last $48.89. Originally suggested as a a BUY with limited order on 02.02.07 at $48.20. Change to market order - consider reason as posted below under Prior Best Ideas.... 7:30am ...BUY Veeco Instruments Inc. (VECO) - last $19.24. VECO designs, manufactures, markets and services equipment used by manufacturers in the data storage, semiconductor, diode and wireless telecommunication industries. As a leading supplier of atomic force microscopes and nanotech process equipment, VECO generates 40% of its revenue and represents its fastest growing markets, especially in Asia. At 17 times forward earnings VECO is a value play with excellent mid-term growth. Management has prudently executed on its business plan and the potential has not been fully recognized. BUY as a limited risk investment with no EXIT POINT determined

February 2, 2007... 2:53pm ... SHORT Pitney Bowes Inc. (PBI) - last $48.10. With earnings due Monday, PBI will show revenue improvement, but may surprise to the downside on guidance. However, the real issue is the $1.1 billion payment immediately due in tax liability from the Capital Services business sale. On a technical basis, PBI is at resistance with little room for further gains above $48, while on the downside support develops in the $40-$42 range. PBI is a prudent short with limited risk. EXIT POINT is set at $42.... 11:28am .. BUY ZI Corporation (ZICA) - last $2.34. Had ZICA as a sell at $2.38 under 60-Day Summary and take profit. However, improving maca and level of buying interest suggests a momentum play. BUY with no EXIT POINT determined.

February 2, 2007 ... 7:30am ... BUY Thomas & Betts Corporation (TNB) - last $48.70. Limited entrance point $48.20. TNB designs and manufactures electrical component used in industrial, commercial, communications and utility. At 15 times forward earnings and strong instructional sponsorship, the stock has long term appeal and may represent a core holding.

February 1, 2007, 7:30am. No action

January 31, 2007.. 2:54pm ... BUY Highway Holdings Ltd. (HIHO) - last $5.35. Under limited accumulation after sustain wave of distribution last over five-days. .... 1:38pm ... SHORT Comverse Technology Inc. (CMVT) - last $19.60. Delisting is scheduled for 02.01.07 and should effect liquidity. Decline to $18.50 is likely in the near term..... 7:30am.... BUY Hanger Orthopedic Group Inc. (HGR) - last $9.02. HGR owns and operates orthotic and prosthetic 669 patient-care centers in U.S. Recently receiving Medicare payment increase of 4.3% (first in three-years) and Cigna contract will immediately show on the bottom line. BUY for near term hold with EXIT POINT $13.50.

January 30, 2007... 3:13pm ... SHORT POZEN (POZN) - last $17.01 . Anticipation of positive FDA ruling to be announced at mid-cap conference is premature. Silence suggests a longer delay than wish to admit. At resistance ($17.15-$17.00) for pulling back to $16.10. ... Five Issues to appreciate in the near term to capture February 1st earnings announcements: (1) Accelrys Inc. (ACCL) last $6.18. Exit point $7.25 (2) Asyst Technologies Inc. (ASYT) - last $6.39. Exit point $9.10; (3) Perrigo Company (PRGO) - last $17.37. Exit point $20.15; (4) Ruddick Company (RDK) - last $27.70. Exit Point $30.10 (5) Unica Corporation (UNCA) - last $12.21. Exit point 14.50.

January 29, 2007... 3:39pm ... BUY Origin Agritech Limited (SEED) - last $8.82. SEED is oversold after declining $2.59 (23%) on failing to meet the estimates of a single analyst. With excellent business model, a dedicated management to execute the plan and sufficient working capital SEED is a value play for the near term. BUY with no EXIT POINT determined. ... 2:07pm ... BUY SanDisk Corporation (SNDK) - last $42.22. Earnings due tomorrow after the close. Projections indicate $0.75 vs $0.68 for the December '06 quarter. However, the guidance for the next 90-day period will establish the near term direction. Look for moderate bullish remarks. Current term EXIT POINT $44.50. January 26, 2007...2:23pm ... SHORT International Rectifier Corporation (IRF) - last $42.62. IFR is within a level level that appears overbought, and a pullback to $40.80 likely.

 

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2 Float - Available stock position in the hands of the general public of the total outstanding.
3 Institutional recommendations during the last 30 days.
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60-day Summary Commentary

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