I’m making a market call; I say we go lower.
Too much froth, while the economy is weakening. Normally, as you know, “The Fly” is a drunken bull, buying all sorts of momentum names, while cursing the Mothers of those who sell short.
However, it’s stupid to ignore the agony in retail, construction, auto’s and semiconductors.
Without high commodity prices and a weak dollar, most of the big industrial names would be sucking wind too.
So, during the month of January, I am committed to selling every spike, while reupping my short positions. Furthermore, with 10-k’s coming due, I am sure the big audit firms, scared of litigation, will insist the brokers and banks be as transparent as could be.
This will result in more “shoes to drop.”
I will sell some of my position into the CES hype. I sense there will ample opportunity to revisit the name, during the course of 2008.
Top pick: [[FXP]]
NOTE: Check the spike in [[SRS]] today.Comments »