Wednesday, November 29, 2006
Closing Comments
Don't ask how I do it-- I just do. I dodged a Merril Lynch fuck you on SNDK, by selling the fucker over the last two days, and I added to my VLO position-- which gapped higher today.
In a nutshell: I just had a bad feeling about SNDK-- after watching the bitch trade over the past week.
Additionally, I am really bullish on the Energy complex now-- mainly because it is contrarian. Everyone I know believes oil is heading lower. Therefore, I think it goes back to $70.
With regards to VLO: Their crack spreads are widening and they should be able to blow away numbers this quarter. Long term, I feel the stock will trade up to $75.
As for today's trading:
Very good for everything but Financials, Trannies and select Semi's. My bear friends believe the market cannot go up, without the trio. Moreover, they feel today's run up was part of a grand scheme to sucker the novice into top ticking high multiple growth stocks.
To them I say:
The jokes on you, pal. The market just cut your balls off and made you its bitch.
In a nutshell: I just had a bad feeling about SNDK-- after watching the bitch trade over the past week.
Additionally, I am really bullish on the Energy complex now-- mainly because it is contrarian. Everyone I know believes oil is heading lower. Therefore, I think it goes back to $70.
With regards to VLO: Their crack spreads are widening and they should be able to blow away numbers this quarter. Long term, I feel the stock will trade up to $75.
As for today's trading:
Very good for everything but Financials, Trannies and select Semi's. My bear friends believe the market cannot go up, without the trio. Moreover, they feel today's run up was part of a grand scheme to sucker the novice into top ticking high multiple growth stocks.
To them I say:
The jokes on you, pal. The market just cut your balls off and made you its bitch.
Comments:
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I feel oil is only rebounding in a down trend. Nothing changed. Also it was helped to a large extent by a weak dollar and short covering. Oil stocks were already pretty high before this latest surge in crude. I'd be cautious chasing them.
China surpassed the US in per capita energy consumption and shows no signs of slowing down. Oil will continue to go up until the last drop has been squeezed out of the planet.
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# posted by 
: 11:35 AM
: 11:35 AM << Home
