Both Greek and Spanish bond auctions went better than expected. Don’t even bother trying to think this stuff through. The reason why I have a ‘long only’ mantra is because I am alerted to the fact that central banks want to create a bubble in equity prices. Just like they did with housing, they are doing the same for stocks. Every once in awhile, stocks start to reflect the horrible news and go lower. Then, like magic, some good news gets pulled from a Greek orifice and they trade up.
NEVERTHELESS, it is still my belief that we are going over the fiscal cliff, which should jar markets, until the bozos in Congress hash it out–sending markets roaring again.
For now, I am heavily long VHC, SWHC, EXK and UA.
Interestingly enough, Sam Poser aka “the only analyst who matters in DECK”, just upgraded the fury boots maker with a $65 p/t. Detail will be posted inside The PPT.
For all of you tabbed blogger contestants, I wish you good luck. Elections will be held in the city square this Thursday. The people of iBankCoin will select up to 3 new bloggers, all of whom will be subject to draconian burdens to meet and exceed traffic goals. A new era is here at iBankCoin and it’s an olde one that was once the standard on another orange site, where it all began. Bloggers will be fired with the same careless abandonment as a chain smoker flinging a cigarette butt or an anorexic discards a nightly snack.
If you’re scared to throw your hat in the ring. I understand; most of you are pussies.
NOTE: Just because the market wants to roar, doesn’t mean it will today.