1.cetv and micc both had very outstanding quarterly reports which drove stock price significantly from their low baselines.however,both stocks appeared to have hit ceilings well below their true worth.even in this bad market,both stocks are probably worth $130 or so.in a good market ,both stocks should reach $175 to 200
2.nevertheless,the market yesterday rose abruptly to about 1410 and then sold off with the traders as the market hit technical resistance.
3.this market is incredibly frustrating.for the second time since 2000,we are in a market where fundamentals do not seem to matter.technical markers,emotion and trading seem to rule the day.this is not the kind of market most average people i.e.amateur investors can function well in.
the hope is that the market will start turning around about election time and that we will not be again be in a prolonged downturn.
4.in the meantime cetv and micc appear to be good core positions.

Sorry for the slow response. The mronign of the first trading day of the month is unusually busy for me.

1. Show some patience. Both stocks are up nicely again today and both are now doing at least as well as the market this year. Very few stocks will trade at their fundamental value in a market that is in a bearish trend and nervous. Earnings have enhanced the value of both companies and increased investor confidence. Buy more of either if the market gets clobbered again.

2. I would not read much into yesterday's post-Fed market. Lots of futures related selling that was independent and preordained. I still think the top of the trading range will prove a difficult obstacle but I also think we have seen the lows for the year. May is usually a tough month and I think a pullback is in order.

3. I think a new bull market will start in late fall just prior to the election. The economy should look better for 2009 and that plus low interest rates will be the catalyst.

4. See #1 above.