Tuesday, March 06, 2007
Sector Spotlight: Financials
Finally, we get an up day.
Everything is ripping higher, as the bulls drop piano's on the heads of the sellers. Even the sub-prime lenders are up.
However, I will use this strength to lighten up and add to my shorts. I anticipate a mini short squeeze, followed by natural buying, via the dip buyers.
In short, I don't trust the fuckers who run this market and wish they'd be reassigned to run Iraq's stock market, instead of ours.
Within Financials, ISE, ICE, NDAQ, NMX and NYX look great. Basically, the exchanges have enjoyed record volume, as of late. If the market firms up, all of the exchange related stocks are going to fucking rip higher. The fear factor is the market vomiting on itself, effectively wiping out the piker investor (you). When the average Joe gets poleaxed, volume will dry up like old people in the sun.
Right now, the market is one big gamble. It's Vegas time.
Either we are correcting or in the beginning stages of a prolonged sell off. My money says the market will impale the sellers, but not yet. Before we get to throw sharp edged bottles at them, some of the weak buyers need to be wiped out. It's Mother market's way of "cleansing" the system.
To put it bluntly, I am not interested in making money now. All I want to do is preserve capital, until a clear direction is decided upon.
Finally, by midday, I will probably put down my third can of Monster and buy a little more SSG or QID. Or, maybe I will spend the rest of my day throwing phone handles at my trader/servant. Too early to predict.
The following Financials have mojo:
NEW +18.2%
NFI +8.9%
ISE +6.2%
OPBL +4.9%
DHIL +4.2%
IAAC +4.1%
Everything is ripping higher, as the bulls drop piano's on the heads of the sellers. Even the sub-prime lenders are up.
However, I will use this strength to lighten up and add to my shorts. I anticipate a mini short squeeze, followed by natural buying, via the dip buyers.
In short, I don't trust the fuckers who run this market and wish they'd be reassigned to run Iraq's stock market, instead of ours.
Within Financials, ISE, ICE, NDAQ, NMX and NYX look great. Basically, the exchanges have enjoyed record volume, as of late. If the market firms up, all of the exchange related stocks are going to fucking rip higher. The fear factor is the market vomiting on itself, effectively wiping out the piker investor (you). When the average Joe gets poleaxed, volume will dry up like old people in the sun.
Right now, the market is one big gamble. It's Vegas time.
Either we are correcting or in the beginning stages of a prolonged sell off. My money says the market will impale the sellers, but not yet. Before we get to throw sharp edged bottles at them, some of the weak buyers need to be wiped out. It's Mother market's way of "cleansing" the system.
To put it bluntly, I am not interested in making money now. All I want to do is preserve capital, until a clear direction is decided upon.
Finally, by midday, I will probably put down my third can of Monster and buy a little more SSG or QID. Or, maybe I will spend the rest of my day throwing phone handles at my trader/servant. Too early to predict.
The following Financials have mojo:
NEW +18.2%
NFI +8.9%
ISE +6.2%
OPBL +4.9%
DHIL +4.2%
IAAC +4.1%
Comments:
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if "turnaround tuesday" is good for all of one-half of one percent upside, I don't even have to gaze into my crystal ball to see what happens next.
Jerome,
Don't be so quick to stick a fork in the market. There are still a lot of fools who believe the bull is not dead coupled with the massive put buying that has occurred over the last week or so. This should keep us above 12K thru next Friday barring any unforeseen preannouncement or bad data point.
Don't be so quick to stick a fork in the market. There are still a lot of fools who believe the bull is not dead coupled with the massive put buying that has occurred over the last week or so. This should keep us above 12K thru next Friday barring any unforeseen preannouncement or bad data point.
>>Adding QLD as we speak. You are buying QID up 10% fucker. Dumb money at its finest.<<
another asshat that insists i take his money.
thanks!
another asshat that insists i take his money.
thanks!
Looks like I am already taking your money assclown. Fuck off and quit trying to short after a big decline like everyone else.
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