Friday, July 27, 2007
Sector Spotlight: Financials
You gotta love CNBC. The market goes down a few percentage points and they set up a fucking summit, with Bush's top economic fuckers.
Asshattery at its finest.
Thus far, I've been opening trading positions in some of the financials, waiting for a bounce. Thus far, I caught some air off BSC and GS. However, it's worth noting, I already took profits on BSC, as you know.
Everyone on the planet is telling you (idiot audience) to buy tech. Now, don't get me wrong; I like tech. But, can we be somewhat objective for a moment?
AKAM, LVLT and NTGR just got their fucking brains punched out, by Mother Market. Generally, the tech sector has been mediocre at best. And, when the market was raping bear villages and burning down caves, tech did not lead the way.
In short, I want to own some of the basic material stocks on this dip. The whole premise of this "risk adjustment" is that deals will not get done. Moreover, all the talking heads say: "private equity can't get financing."
Want to make a bet?
Don't misconstrue the summer doldrums, when normal people take a break, for the end of the private equity era. My money says, come Labor Day, deal flow will be abundant.
Anyway, within basic materials, I like RS, CENX, KALU and AZZ.
As for the financials:
I view them as a trading buy. Meaning: If you buy the bitch and it goes up, take the profit. I do not think the market will "hockey stick" up. Not yet.
Finally, now is a good time to compile a list of high quality names, which have been discounted. So far, two standouts, in my opinion, are VMI and MVIS.
I'm pretty sure the MVIS conference call, scheduled for July 31st, will be kick ass.
Asshattery at its finest.
Thus far, I've been opening trading positions in some of the financials, waiting for a bounce. Thus far, I caught some air off BSC and GS. However, it's worth noting, I already took profits on BSC, as you know.
Everyone on the planet is telling you (idiot audience) to buy tech. Now, don't get me wrong; I like tech. But, can we be somewhat objective for a moment?
AKAM, LVLT and NTGR just got their fucking brains punched out, by Mother Market. Generally, the tech sector has been mediocre at best. And, when the market was raping bear villages and burning down caves, tech did not lead the way.
In short, I want to own some of the basic material stocks on this dip. The whole premise of this "risk adjustment" is that deals will not get done. Moreover, all the talking heads say: "private equity can't get financing."
Want to make a bet?
Don't misconstrue the summer doldrums, when normal people take a break, for the end of the private equity era. My money says, come Labor Day, deal flow will be abundant.
Anyway, within basic materials, I like RS, CENX, KALU and AZZ.
As for the financials:
I view them as a trading buy. Meaning: If you buy the bitch and it goes up, take the profit. I do not think the market will "hockey stick" up. Not yet.
Finally, now is a good time to compile a list of high quality names, which have been discounted. So far, two standouts, in my opinion, are VMI and MVIS.
I'm pretty sure the MVIS conference call, scheduled for July 31st, will be kick ass.
Comments:
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Fly,
Also your LNN is good here on the 50-day. A good place to add if you think the market will stabilize and go higher.
-DT
Also your LNN is good here on the 50-day. A good place to add if you think the market will stabilize and go higher.
-DT
The Plunge Protection Team (PPT) is on standby waiting orders from Bush just in case we actually get a 5% correction.
Fly?
Is it too early to ask WTF about LZ? Even ArnoldPalmer-like oil gets kicked today.
I can't imagine how good HANS will have to report to not get beheaded. No earnings plays seem possible for a while.
Is it too early to ask WTF about LZ? Even ArnoldPalmer-like oil gets kicked today.
I can't imagine how good HANS will have to report to not get beheaded. No earnings plays seem possible for a while.
LZ will be fine. Listening to call now.
Gapping--
The sellers of MVIS are the people who thought the MOT release would send the stock much higher.
They are traders.
This is a long term value play.
Gapping--
The sellers of MVIS are the people who thought the MOT release would send the stock much higher.
They are traders.
This is a long term value play.
broker that is what I expected but just wanted to confirm that nothing has changed other than for the better. I would expect the selling to dry up soon as weak hands move out. Atleast I am hoping at this point.
# posted by 
: 11:36 AM
: 11:36 AM
Slow, boring sports season, chart sucks, BWLD going to the low 30's. You can cuss me out for that Fly but all of your picks are sucking wind lately.
What a wild week. What to do- buy/sell or eat oatmeal.
Anything that has private equity written on it is getting slaughtered NEU,TIF both in my port.
So is it true that we have a future blog world Hall of Famer working the site this weekend?
Anything that has private equity written on it is getting slaughtered NEU,TIF both in my port.
So is it true that we have a future blog world Hall of Famer working the site this weekend?
get ready for Black Monday chatter ..stops set at spx 1465 ... could be a whoosh after that with snapback
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