The market finished in strong fashion today as investors rallied around renewed optimism about the pace of economic growth. Today’s report on the strong labor market helped to ease concerns. The jobless claims 26,000 this week to 299,000.
Biotech firm, Genentech DNA (+3.66) topped Wall Street estimates and raised its FY07 outlook, prompting several price target increases. Today even the tech sector swung high with Microsoft MSFT (+1.04) after Windows Vista was named Best of Consumer Electronics Show.
I feel with market closing high most of the stocks i follow have become a bit pricy. Oil prices is still a concern. Stock prices rose even though the oil prices dropped which makes you wonder about the investors sentiments about the economy. However i spotted 4 good buys for tomorrow.
COGT (EPS = 0.38, P/E = 28.25, Market Cap = 1.03 B, PEG = 1.25) – I dont like this one for a long time, but will make a good short term buy and sell trade.
DELL (EPS = 1.28, P/E = 20.97, Market Cap = 60 B, PEG = 1.51) – Excellent numbers, Brand name, with Vista launch this will go high.
MED (EPS = 0.40, P/E = 25.74, Market Cap = 140 M, PEG = 1.39) – Small cap with strong numbers.
NUAN (EPS = -0.14, P/E = N/A, Market Cap = 2.0 B, PEG = 1.15) – Negative EPS, but excellent PEG just offsets that. They are getting into speech recognization.
I am not shorting any stocks for tomorrow.