Daily Market Brief

Monday May 28, 2004

A relatively slow session today across the markets as we start this shortened trading week into the Summer months. Still after $5340-$5350s on SP500 but it would be nice to get some energy in this market to do it….

Moving on….

Energy, at least for me, has been dead the last 2 months but it was great in Q1. Looking at XLE 0.00%↑ into end of this month (among some other names) I think the repurchase of longs in that sector is coming.

CVNA - This finally began to roll over today (really last week) and we should just creep lower. I have a history with this Company and I came back for part two earlier in May so that’s a plus to see it lower. Conservatively I have it priced at $65-$70 a share so my plan is to just stay short, at least until July earnings.

NFLX - I was hot on this in Issue 21 of the report. We are just about to make the next leg higher here on this, maybe this week.