The million dollar question is: will the Fed cut by 25bps or 50bps?
Of course, I believe Bernanke should go gangster on the shorts and do 50. However, most people believe 25 is probable.
Considering how much we have run up, I find it hard to risk too much capital up here. I get the sense, at the very least, we are due for a minor pullback. So, for a hedge, I will be buying some more FXP, down at these levels.
As for today’s trading:
Well, MVIS did it again. They released some nondescript news, with no financial details, and the stock shit the bed, once again. Basically, investors are bored with the name and want more substance. They want names, dollar committments and technological progress.
With any luck, the stock will get bid up during CES.
Apparently, iiG has bottomed. I just took out a trading position on it. Nothing big—just a tester.
Select retail names have mojo, like LULU, TBL and VLCM. However, for the most part, the sector is toxic.
GNSS was put out of their misery, being bought out at absurdly low levels. On that news, TRID is enjoying a bounce. To me, it’s unbelievable how commoditized the semi’s have become. They suck.
Finally, energy, networkers and ag stocks look decent. However, for now, ahead of Bernanke, I’m more interested in throwing lunch meat at my trader/servant, than fucking around, buying stocks here.If you enjoy the content at iBankCoin, please follow us on Twitter