NBA Action: Laker Girl Lisa

No secret who I'm cheering for during the NBA playoffs.  It'll be Laker Girl Lisa!  You might want to follow that link and click through Lisa's slideshow.  Trust me.

I have a lot in commen with Lisa.  Her trade is cosmetology, and every month or so, I get a hair cut.  Coincidence or "God's plan?"  

Part of the stock market continued its winning ways today.  I think the atmosphere is getting a little thin as volume was a little lackluster and the Nasdaq suffered a bit.  In addition, after the bell Yahoo choked their earnings report.  Maybe we've come to expect this from Yahoo, even though she's down in size afterhours.  But there was Intel and IBM, too.  Nothing really great here, and maybe nothing to justify the day-after-day rally of the past few weeks.  The futures are down a bit, so early tomorrow we'll see if folks who have been left behind in this rally will buy the dip or if we'll finaly get some correcting or basing action.

I've sold some of my mo-mo small caps and booked the gains.  I do still have some.  They've had big moves and with their volatility, any move in the other direction will be just as dramatic.  Longer term holdings remain the same with low-beta stuff, cash and a QID hedge.  Sure wish I had increased the QID hedge late today.

For the CNBC stock contest, I remain in 100% cash.  Slipped in the rankings the past 2 days from the top 21% to the top 26%, but maybe will improve in the days ahead if the market pulls back and those folks at the top are in volatile mo-mo names.