I am seeing a lot of China-centric names running higher, particularly steel and copper–even aluminum. Names like CENX, MEA, RS, FCX and a slew of cement stocks are strong. On top of that, domestic retailers are near new highs. If I didn’t know any better, it looks like the global growth story is back in play.
Now that doesn’t mean get long MTL in size and never look back. For fucks sake, this market is almost as bipolar as “The Fly”–switching from one macro-thesis to the next, without a care in the world.
Two new stocks on my radar are BYD and MEA. Actually, I’ve been eye-fucking (no pervert) MEA for a few days now. I haven’t bought any yet because I already own NAK, CVO, TC and PPC. Next thing you know, BAM!, the market gets lit up and I’m caught long a portfolio worth of shit micro-caps.
For the young punk motherfuckers out there: remember to lighten up when shit is rising to the top. It’s always a precursor to a nice stiff correction. In this case, there is a strong chance we will sell off after Thursday’s Fed meeting. Why the fuck not?
At the moment, I am rolling the dice, 90% invested long. I will not add to any positions from here, as I am looking to unload into strength.
10 Responses to GLOBAL GROWTH IS BACK?
I like and agree with your srategy.
strategy (no homo)
Impala’s were designed to run over former Yale hockey captains who peddle newsletters. #noMcCullough
Fly, if the FED ‘disappoints’ the mkt this week (i/e no QE3 but just tough talk) and the mkts tank, do you think hi yield corp bonds (or even high grade ones) will have higher yields (i/e go lower)?
PBOC rumors of RRR cut is doing that, last night shanghai futures went all crazy on the thought of the cocaine. BTW, you know who is missing? The new Leader of China..he is missing meetings and no one is saying where he is.
LOL, China raised Gas Prices instead, http://www.shanghaidaily.com/nsp/Business/2012/09/11/Motoring%2Bto%2Bcost%2Bmore%2Bas%2Bpump%2Bprices%2Brise%2B6/
Short-short swing buy on $FXCM.
Must be bought today and (strictly) sold before FOMC headwinds.
FUCK THE RULE!!! You know who follow’s all the rules? Children and poor people… Sometimes you gotta smash a few skulls in to get where you need to be.
no , no , no , get out NOW