The market has really been on a heater in the first week of '06.
Don't want to be too greedy. I have exited Broadcom (BRCM) in full at 50.33, just shy of a $3 winner.
Played some Nuvelo (NUVO) on the short side for a small profit today as well. They surged more than 40% yesterday due to a large drug deal with Bayer. After spiking some more today, it began to weaken. So, I shorted a bit and was able to cover fairly quickly.
Yesterday, Constellation Brands (STZ) announced fine earnings, except they guided their revenue projections a bit lower than most expected prompting a sell-off in shares.
Today, Piper Jaffray upgraded St. Jude Medical (STJ) to Outperform and tacking on a $60 price target. STJ gained market share in Implanted Cardiac Defibrillators due to Guidant's recent problems. Piper believes that their market share gain is sustainable.
That's all for now.
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