While it’s true, one day does not make a trend. It’s also true, last week’s short covering rally does not mean we’ve bottomed.
Last week, those fucking soup lines from “early January” magically morphed into high end Starbucks cafe’s, as poor became rich and the market had “bottomed.”
However, in the real world, where people are getting their houses snatched, financial institutions are eating wood. Capital spending is down and margins are being squeezed.
With my money, I will make sure the downside move is legit, prior to selling more of my long positions. Additionally, I want to remain short [[DECK]], [[LEH]], [[C]], [[BAC]] and [[WM]].
On the long side, again, I like [[AIZ]], [[CMO]] and [[CLX]].
Also, I have a floating position in [[NTRI]], hoping for the fat fuckers to “diet up,” sending the stock higher.
Finally, ahead of the Chinese holiday, expect to see ridiculous runs in China related names, as euphoria peaks. However, this is a perfect opportunity to fleece the fucking rice farmers of their coin, via buying [[FXP]], [[EEV]] and [[EFU]].If you enjoy the content at iBankCoin, please follow us on Twitter