This sell off is much deeper than the 2 red points that the Dow is suggesting. Stocks across the board, particularly risky names, are being taken down pretty hard here. Even with my limited long portfolio, I have three names down 3%+.
While it’s true, this sell off could be a buying opportunity. I suggest missing out on the exact bottom and wait for the market to prove it will not nosedive further. Everyone is expecting the market to swan dive, thanks to the Goldman lawsuit. The way I see it, the market was due to correct anyway.
Unless you are shorting stocks or long volatility, there aren’t many places to hide. Very simply, you should have a decent cash reserve built up by now, in order to take advantage of a weak market. If you were not selling, as the market climaxed, you deserve heavy losses, AND MORE.
Into weakness, I like TriQuint Semiconductor [[TQNT]] , Johnson Controls, Inc. [[JCI]] and Fuel Systems Solutions, Inc. [[FSYS]] If you enjoy the content at iBankCoin, please follow us on Twitter
Fly very subdued today.
Still fighting the pig virus?
No pig. I just have several pressing things to do today.
Indeed
Leaders are rolling over and risk names are getting smashed
Sub 2.20’s for the win! I will patiently wait.
Top of my buy list is ATPG.
Indeed… very strange to see the Dow near 12K trading down fewer points than SPX at 1190. WTF???
You’re seeing the Dow at 12k?, man you must of had way too many changs over Songkran 🙂
El typo. Obviously meant 11K. 12K would have been nice, no?
Fluteck keeps on being my best pick.
As i said friday–were going into stairstep chop mode. We were on the verge of a glorious “no news,no catalyst” 1987 style crash. Now, dip buyers have confidence that each dip is just a temporary News related related “overreaction” on the SPX.
For intraday scalps–sell rips/buy dips
But the overall trajectory on Swings is still down. Im not abandoning short swings until we break dow 9k, or oil at 60.00.
As far as the absurd notion that we blast off to new highs, in may, in the middle of a geological/banking apocalyspe
Im not arguing that with you
http://www.youtube.com/watch?v=LnLDMqPBeKQ
Cheer up lads!! There’s good hurricane season coming up and with it the resultant plays in energy related shit.
http://www.thaindian.com/newsportal/world/second-volcano-in-southern-iceland-erupts_100350562.html
nevermind….screw them….http://www.thaindian.com/newsportal/world/hekla-europes-9th-most-dangerous-volcano-erupts-or-did-it_100350586.html
Whether a guy crossed the plane of the endzone with the ball before going out of bounds… that’s something that can be debatable if the camera view is blocked. A fucking volcanic eruption should be one of those things that you know for sure happened or didn’t.
from the WSJ today: “ACA Financial Guaranty was the smallest and financially weakest of the nation’s bond insurers…It had a single-A financial strength rating and only $400 million in capital and claims paying resources, yet it was insuring over $50 billion in financial assets, a substantial amount of them mortgage related…”
aren’t insurers like ACA the real idiots and irresponsible culprits in this mess? Why isn’t there talk of reforming their over-leveraged exposure? Aren’t they the ones whose A-rating allowed mom-and-pop pension funds to invest in toxic waste in the first place?
Math wizards, in the bunkers of the Colorado mountains, took time off from developing Santa tracking software to release a NMOMD (number muncher of mass destruction) to wreak havok on exchange listed equities in China. See here (http://www.iresq.com/blog/wp-content/uploads/2010/03/861940-numbermuncher2_super.jpg)!
Those $SSEC fucks got fetus-drop soup in their faces yesterday as their market collapsed to the tune of 5%. I mentioned EJ as a short last week and look, it’s already down 10%. I would watch policies being instated over there as they will also dictate investment policy for Chinese insurance companies. There’s no place to hide from the NMOMD, except maybe some Egyptian pyramid where numbers are bullshit to the almighty stick figure with arrow.