iBankCoin
Joined Jul 30, 2008
2,107 Blog Posts

Looking to buy EEV down here.

I hate to be a knife catcher, but the way the media has been pumping the “world markets” as being super bullish, flaunting their “extended gains” is starting to irritate me immensely.  I plan on catching EEV by the handle, then using it on a myopic bull.  Perhaps I will come in a cloak, and deliver the dagger.  It’s a crazy bearish equation that not many can see.  Well, I’m not meant to be seen anyway..

rising on hope + rising on low volume

Here’s an example of the hope:

Asian markets rise on hope

World Markets Extend Gains, Nikkei up 0.4% (Lol)

Friends, this is not a healthy market to be getting long in, but if you were prudent enough to get long when the Vix was in the high 50s (when we kissed the 60s good bye, early in December), then you should begin to sell some stocks to the dumb money.  If you’d rather ride this out, which is a viable option to swing trading this tape, then I strongly suggest you start buying some hedges, for example, getting long SRS or EEV here (due to panic in the bear camp, I have a buy-limit set on EEV between 43.50 – 44.50.  I will gladly override that), which will help you to “buy time.”  Right now, it’s a little difficult to use shorts as a “hedge”, I mean, did you see the reversal on MELI on Monday (maybe energy’s sell-on-the-news is a place to short)?  That was a bear killer.  If you’re having a little difficulty finding a bear-trade to hedge longs, then go with our default strategy for uncertainty… lighten positions!

-gio

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7 comments

  1. Gio

    Thanks for all the stock recs on the comments section of the last two posts. I will plug them into the PPT machine and see what “the Code” weaves out for us and post them later. Anyone see Wanted? I just realized I can bend a bullet.

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  2. Gio

    … i think I found a few more stocks getting ready to breakout. I don’t know if anyone remembers, but I highlighted some interesting action going on in CSKI a few weeks ago. New high today! And i just spotted a sector I want to short… Education! Trying APEI, STRA. PLCE is a new short candidate on my retail list.

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  3. Stuart06230

    EEV is in a bear market and should not be bought until signs of reversal.

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  4. scum bucket

    It feels good to watch this stuff while drinking coffee and perusing the RE section of the newspaper.

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