Wednesday, December 27, 2006
Closing Comments
You can't say I didn't warn you about covering your shorts. The market is going out in 06' with guns blazing. Now, all my "smart" bear friends, who have been poleaxed in 06', say the hammer will drop on the market-- first thing 2007. Even some of the more seasoned investment minds, like Rev Shark, feel the market will weaken in '07.
Why?
Have you not had enough Monster Energy soda to realize we are in a bull market-- which is not beholden to the date on the calender?
Seriously, if you are waiting for '07 to be right, you are already wrong. Until we get real evidence of a drastic economic meltdown, I think stocks will continue to rip higher.
As for today's trading:
Once again, Chinese stocks soared. The way I position into China is via FXI. Also, outsized gains were found in Steel, Internet and Networking stocks. Pretty much everything was up-- as investors look to buy in-- prior to the New Year.
Also, the 4th quarter is coming to an end-- which means mutual fund window dressing. Therefore, many of this years winners may continue to outperform-- at least for another 2 days.
Why?
Have you not had enough Monster Energy soda to realize we are in a bull market-- which is not beholden to the date on the calender?
Seriously, if you are waiting for '07 to be right, you are already wrong. Until we get real evidence of a drastic economic meltdown, I think stocks will continue to rip higher.
As for today's trading:
Once again, Chinese stocks soared. The way I position into China is via FXI. Also, outsized gains were found in Steel, Internet and Networking stocks. Pretty much everything was up-- as investors look to buy in-- prior to the New Year.
Also, the 4th quarter is coming to an end-- which means mutual fund window dressing. Therefore, many of this years winners may continue to outperform-- at least for another 2 days.
Comments:
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speaking of window dressing, and being a cheap SOB myself, do you have any pointers to decent companies getting ejected from portfolios because their stocks are ugly? I think ESLR is an example, unless they really are going belly up.
# posted by 
: 4:15 PM
: 4:15 PM 
You don't think today's one final squeeze on the shorts in 06? You seriously think any party can go on forever? I think your bear friends will be right in 07.
wincity, I was the same way a few months ago and thought I had to be right but really look out there at the economic conditions, what tells you that this market will go down? We are in a healthy up-trend. Only idiots are stepping in front of it, until you get bearish news and a downturn the to 5/10/20 day why would you short this market?
# posted by : 6:22 PM
: 6:22 PM
Did you see the short interest in HANS as of 12/12? Its up over 20% even after the run up earlier in the month, fuel for the fire perhaps?
Wish I could share your outlook on oil. Maybe I'll regret it, but I sold my VLO. Too bad we didn't by ,this Valero, (VEH).
StockLogic
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StockLogic
# posted by : 9:26 AM
: 9:26 AM << Home
