I sold AG near the high of the day and added to my OXY position almost 1 point below the current price. I sold TLT 10 cents cheaper and now find myself scratching my balls, watching the market knife lower. I have NO INTEREST in catching this knife. Remember, the end result will be joyous for inflationistas. But it’s a long trip until that is realized. We could lift off from 10% lower from here. That’s why it’s important for you to time your buys, ever so carefully.
Make no mistake, we are oversold and well deserving of a face ripping rally. But if the perception of European ineptitude permeates and marinates in the small minds of American money managers, you will see the Dow throw up chunks on itself. For this reason, “The Fly” remains at 50% cash, heavily long OXY, WNR, EXK and time.
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Put on a full position in KKD. I like the momentum of the underlying business. Seems as if they are in the zone for the moment. I usually don’t like entering after earnings, but this is more of a system’s trade.
Ten shares?
Any rally will be a good shorting opportunity, the intermediate trend is down on dollar strength until prices become much more attractive.
Were you in “Goodfellas”?
I solve problems.
It only looks like a downtrend, until you examine it on a sector by sector basis
2nd day in a row that XRT retail stocks have stayed green most of day . Not the kind of sector rotation you would see at kick off to a correction.
And Ive seen many XLF dips over past 2 years–But,never with so many regional SPX component banks, dropping on such a steep lack of selling volume.
All we need is one major regional to bounce (JPM BAC C , etc) and it could burn several weeks of these low volume short sellers.
I highly doubt it’s shorts that are taking this market down, this is dip buyers not having the strength to take her up.
The macro picture is dollar strength and until that changes the best longs can hope for is a sideways market.
Is Rick Ross the new bearded clam?
CNBC fustrates the heck out of me….FIRST CHINA doesn’t NEED our Diesel Oil this summer due to their upcoming energy shortage this summer. They are just going to stop EXPORTING their Diesel, which pisses off their refiners cuz they get a much higher price outside of China, plus omg already stories of stupid spockpiling of Dieel in China…….oh trivia, what I have on my radar, China is trying to set up its own Iron Ore Pricing System in June, Remember how they got Date Raped by Australia last year when they took away their Yearly pricing system and turned it to a quarterly system….well, payback can be a bitch Aussie. BTW, can I just slap silly that stupid GS upgrade of commodities…
nymph,
as long as HAO china smallcaps etf stays above current trendline, which was established in February,the China crash has not yet begun
Pana…Shanghai Comp is under its 50MA,100MA and 200MA on the daily.
ROFL
http://nymag.com/daily/intel/2011/05/president_obama_has_no_idea_wh.html
Hangover induced.
did we need proof ?
I’ve done that….
I looked up may 24th 2008…
When he said sacrifice was he referring to this? http://en.wikipedia.org/wiki/May_24,_2008_violence_in_Sucre
LOL…
Let’s see.. Ottnott…. Teahouse… who was the third thumb’s down on this?
_________
Thumbs down for you … I didn’t vote as I’m not a defender
Long WNR and long EXK, fuck yeah!
Love the new thumbs up buttons. Does the same thing apply, as did with the Karma points, that woodshedder automatically gets thumbs down for comments?
me too me too long WNR, EXK, CCJ