We’re long in the tooth here. I like AXP, UYM and SWHC, but lower. Stocks can go much higher than where they are now: but before they do, we need to retrace a little.
It’s worth noting the carnage in commercial re names, specifically VNO, KIM, TCO, SPG and ACC. It appears investors are placing large bets against retail oriented REITS. I find little reason to bet against such wise men. Moreover, I find many reasons to fade the recent run up in REITS, via selling short “The Four Reverse Horsemen of Certain Death” (WRI, ACC, MAC and HME).
As for oil: I’m not feeling it right now, in either direction. Part of me wants to throw meatloaf at XOM. And another part just wants to eat pretzels, while ignoring everything about oil and oil related stocks. However, at the end of the day, oil shall and will trade lower.
Finally, the run up in C is just plain stupid. As a matter of fact, the run up in all of the banks is borderline ludicrous, absolutely gay. However, numerically, banks are cheap. So, should this rally continue, you FAZ holders may find yourself switching places with the FAS losers, if you know what I mean. Levered ETF’s are the work of the devil. Holding them for more than a week is dangerous. Fuck around with FAZ, next thing you know that fucker is hitting single digits and you are on the back end of a foreclosure proceeding.
Do yourself a favor and stay away from the banks.
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