Monday, November 20, 2006


Shorting into Thanksgiving...

... is often a recipe for losing money. As you now, all of the fuckers will be out and about, talking up the holiday shopping season--which officially begins Friday. Furthermore, people are happy-- damn it.

If you are really hell bent on shorting stocks, consider doing it Friday-- not before. If early reports indicate the consumer is going to sit this Christmas out-- stocks will tank. However, I doubt this year will be any different from previous spending seasons.

I will say, the bulls are running out of catalysts to drive stocks higher. At some point, the buyers will exhaust themselves and we may finally get a pullback-- just not yet.

NOTE: If you like buying mutual funds, take a look at the Seligman Communications Fund (SLMCX)-- up 16.5% year to date. It is a traditional tech fund that is making big bets on internet security. Top holdings are MFE, SYMC, SNPS, VRSN, KLAC, STX, AAPL, CYMI, DOX and QCOM. I know the manager (Paul Wicke) and he knows his stuff.

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