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  1. Home
  2. / Investing
  3. / Technology

Catching Our Breath

The action is a bit choppy as market players figure out there's time for a little rest before running more.
By JAMES "REV SHARK" DEPORRE
Mar 06, 2013 | 10:43 AM EST
Stocks quotes in this article: GV, GASS, SRPT, NXPI

I'm not surprised that there's a gap up this morning after all the hyperventilation by the media about new highs on the DJIA. While it's producing a little profit taking by prudent traders, the action is mostly choppy and sloppy as market players figure out if we have the ability to run more without a little rest first.

I definitely wouldn't mind finding more buys but it looks like we are going to see consolidation first. I've made a few small sales, but I continue to like a number of stocks I've discussed lately, such as Goldfield (GV), StealthGas (GASS) and Sarepta (SRPT).

A new name I'm watching is NXP Semiconductors (NXPI), a Netherlands-based company that makes RF chips and other wireless technology. The company is expected to grow earnings 59% this year and 29% next year, but the stock sells at a trailing price-earnings ratio of just 19. Technically, it has been basing in the $31 to $33 area for about a month and is making a run at recent highs.

I'm finding stock picking increasingly difficult so I'm not forcing things and I'm keeping my stops tight. A little a pullback would not be bad at all.

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At the time of publication, Rev Shark was long GV, GASS, SRPT and NXPI, although positions may change at any time.

TAGS: Investing | U.S. Equity | Technology | Stocks

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