With more than 20% of my holdings in cash and an itchy trigger finger, I am biding my time, trying to suppress my desires to add to positions here. The market looked fantastic, oh, about 1 hour ago. But now it looks much harder. The dollar reversed higher and commodities are getting hit. For optimal entry points, I suggest waiting for the commodity sell off to apex, then nibble. Buying right now is equal to knife catching.
Don’t get me wrong, knife catching can be tonnes of fun. But it’s bloody.
At the top of my buy list is MTL and FNSR, two different sectors, both cheap on fundies. Additionally, I am eyeballing ALV and KEG.
The important part about this market, or any market for that matter, is that it’s not going anywhere. Sometimes I do not look for any stocks. I don’t feel like it. Other times, I work like a dog for one stupid stock to rifle off buckshots in my face. If you don’t feel like trading, don’t. Often times it’s the rushed trades that come back to bite you in the face.
Raising a little more cash, I trimmed back my TEX positions and sold out of CRUS.
If something comes up, I will nibble. If not, I will likely wait until tomorrow to start a new position.
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the PPT showed it’s power with you awesome $ZSL call the other day – lol!
Did it go down yesterday? Did I make money in my EXK, AGQ buys?
I never said it bottomed, only that is was oversold. Give it time.
Fuck off.
The oversold call was a correuct one.
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The Fly is God.
The US consumer will get a boost from tax refunds AGAIN. Stay long and strong. Cash is for wimps. The last of the buyers are about to enter the market.
Hey FLY
Noticed one of the buy list cos. is in coking coal. Talking to a buddy of mine in the big end of the mining business. He reckons that coking reserves around the world are really fucking low and although there’s other coal around high grade coal is really in short supply.
My brother in law is a coal trade and he reckons the same thing especially about coking coal.
insider trading!!! 😉
family business, stupid! 🙂
TCK has been yelling that for months now. Take a gawp at their chart.
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It’s true. A lot of the world’s high-grade, easy access coal has been burned already. Mostly by Bob Cratchet after he got his raise.
A lesson for business owners everywhere.
We have shitte tonnes of coal right here in the U.S.
Question is — do we have the bawls to burn it?
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DKS up strong today, putting heavy pressure on the shorts.
I got some CYT at the open.
Might want to pick up some CYA while you’re about it.
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great news .. more free-money aka market welfare will be coming to the market .. starting mid-feb an additional 25billion per week. woo-hoo.. dow 15K!
http://www.bloomberg.com/news/2011-01-25/treasury-may-shrink-fed-borrowing-by-98-as-debt-limit-bumps-into-ceiling.html