[youtube:http://www.youtube.com/watch?v=7tZFhecJtRM 450 300]
Comments »Weekend Links
Earnings
Tuesday:
- Alcoa Inc. [[AA]]
- Yum! Brands, Inc. [[YUM]]
Wednesday:
- Costco Wholesale Corporation [[COST]]
- Lindsay Corporation [[LNN]]
- Monsanto Company [[MON]]
Thursday:
- Chevron Corporation [[CVX]]
Friday:
- General Electric Company [[GE]]
Cautious
I know you have been waiting for me to come out firing like I always do, but I will not.
I did just buy a little Morgan Stanley [[MS]] @ 24.60
and some [[UYG]] near $17. (note: small positions)
Regions Financial Corporation [[RF]] also seems interesting to me here around $13, but I already have MS & UYG.
I also added to my puts in [[IWM]] as a hedge. (still have that strangle going)
It’s important to be very careful here. If you decide to go long throw a hedge on for downside protection ie. [[SRS]] or puts on IWM.
Charts are indicatiing a bear flag at the moment (very Bearish), be careful.
Comments »Your Car is Going to Zero (Part II)
Fly had an excellent post today explaining reasons to short Auto companies. If the house does not pass this bailout you can kiss your these companies goodbye. Going through Fly’s list tonight, I must say it is super ugly for the industry.
Here are a few names at critical points:
AutoNation, Inc. [[AN]] Short below 10.75
AmeriCredit Corp. [[ACF]] Short below 9.50
Advance Auto Parts, Inc. [[AAP]] Short below 38.00
[[CRMT]] Short below 17.50
Copart, Inc. [[CPRT]] Short below 37.50
Cummins Inc. [[CMI]] Short below 37.85
Note: These are the new financials, should the bailout not go as planned, you will want to be familiar with these names.
Comments »FCX: Bought @ 46.75
Back in Freeport-McMoRan Copper & Gold Inc. [[FCX]] , enough is enough.
On a day like today I had to buy at least one stock. It was out of FCX, National-Oilwell Varco, Inc. [[NOV]] , or Chesapeake Energy Corporation [[CHK]] .
They are giving these companies away.
Note: Also picked up some Gushan Environmental Energy Limited [[GU]] @ $4.00
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