Thursday, March 29, 2007
Raw Footage of "The Ducati"
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Short it all!!! Short oil,gold,stocks,bonds,NY Yankees,George Steinbrenner,housing cattle,chicken wings, Tiger Woods,short people, the internet, Iran & global warming.
I was an active trader of the Fidelity Select Sector funds then. Hourly pricing, unlimited switches for $25, no dollar limit. They changed the fee structure several years later. It was like picking $$$ off a tree since the hourly pricing lagged the actual market pricing by about 20 minutes or so.
Wow, you're an old timer! One thing I noticed when folks make reference to "smelling a move" is that it is the one sense that does not correlate directly to the market.
What are your thoughts on SMH (I can probably guess) but I like the long side here.
What are your thoughts on SMH (I can probably guess) but I like the long side here.
I trade SMH as a daytrading equity. It is fairly easy to read (just watch TXN,INTC,AMAT) but its in a giant trading range IMO going back to I believe July of last summer when it got down to 29.25 or so. Gold stocks I think are a good short. Why are they down today and gold down $6.00 with oil up $2.00. Also XLE is a decent day short. Why is it unchanged when crude is up $2.00. I thinks its the hedge funds handing off to the invidual investor.
It's funny, despite all the inventory worries the SMH has been is a very tight range for the last seven months despite all the bad news. When we finally get some resolution (downside or upside), I think the move could be lasting. The most recent selloff is absent heavy volume and thus far has has held above the lows in early March.
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