I believe too many people are not aware of the risks
I believe many people think this was the bottom
I believe shorts need to fry for a little bit longer and more bulls need to be sucked in
I believe I am going to wait in the weeds for a bit longer
I believe this will set up a delicious opportunity to get short again
I believe it is not a question of IF but WHEN the next shoe drops (pick a shoe, sov defaults, insurer blow ups, state BK's etc etc etc)
across the board we have seen risk get bid and the USD getting chucked with the exception of govvy bonds(which is a bit puzzling)...i am watching the action in the eur and gbp with particular interest...also watching the broad equity indices
I am on the hunt for crap CREREITS and will look to take short positions in them...still doing homework and will post the results...should be done with research in next day or two
I am waiting for overbought indicators to get short broad indices and stocks but I am making a list now
Also I do not believe a word bank CEO's say...I do not believe non GAAP numbers...I do not believe this will end very well...in a fight for your life desperation rules and we are seeing the actions of the desperate...CONgress with the m2m crap...pandit and lewis with their statements...obama now saying this is not as bad as we thought etc etc etc...
for now i wait though...but i look forward to taking a large position i can live with...just not now...
am enjoying this move and only position i have left is the GE trup...Various targets are a lil irrelevant to me as I suck with them...I just like to look at oscillators, sentiment and chart patterns...
Now of course we may pullback tomorrow or we may just farking tank...or we may farking moon...hell i dont know...but i believe the odds favor perhaps a pullback tomorrow then a continuation of this move...not playing long anymore and like I said I am watching things to start taking short positions...i took a little nibble a bit too early but cut my losses early today...
we went from 940 to 667 in 41 trading days so certainly a retrace is def in order and patience is a virtue
2 comments:
I believe you are right on all counts. I didn't think we would get the bounce, but Market was ready and just needed something to latch on to. While I thought Ben's words to the CFR were more meaningful, pundits mostly grabbed Vik's comments and then the other Cows (Ken and Jaimie) had to come along and say mooooo too. Crazy!
GM now saying it doesnt need the 4 billion to make it through march...LOL...everything is peaches and cream now...now if the mean media could just back off cramer/cnbc all would be well with the world
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