Where shall I begin?
Chinese output increased for the first time in 6 months, at the same time everyone in the U.S. is unemployed and/or homeless. That’s odd.
Ken Lewis of BAC is a lying sack of southern pecans. And, finally, Congressional mandated fraud, via FASB rule change, is giving a lift to stocks, particularly banks, early this morning.
For the moment, I will put my sour grapes to the side and attempt to recover some of my erroneous losses in FAZ/SRS. Although it sucks to be on the receiving end of a “fuck you, you’re dead” rally, I am only long 2,000 shares a piece.
After things settle down a bit, I will start nibbling at some semis, starting with a little USD, then some more SPIL. In addition, I like the action in TQNT, TER, KLIC, NIHD, CIEN and maybe a little EZCH.
In short, I might just start buying shit, with both hands.
Stay tuned.
NOTE: The action in crude is extremely bullish. For the moment, I want no part of oil shorts. Instead, I may explore some longs.
UPDATE: I bought 2,000 ERX @ $26.67
UPDATE II: I bought 2,000 EZCH @ $12.95, 5,000 CIEN @ $8.62 and 5,000 NIHD @ $16.60.
UPDATE III: I bought 5,000 ISIL @ $12.40
UPDATE IV: Long another 2,000 FAZ on an average down @ $17.15.
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