The NEVER ending strength to this market has my mind twisting and turning. Who is buying the market everyday? If you bought the market 13 trading days ago you are up 14%? Isnt that enough? Wouldnt you take a few profits maybe go to the beach for the day? I am scared to say it but I believe the conspiracy guys out there that say well the government gave Goldman and JPM all of this cash they are under the gun to rally the stock market and hopefully get some consumer confidence back. Its not that far fetched, if Bernanke can buy MBS and the like why cant the government in guise buy SPUZ everyday all day. Who else has that much capital? Oh well im feeling pretty lousy - my longs are way underperfrming and the month ends tomorrow and as a hedgefund guy the monthly return is uber important.
BBY (bestbuy) as the ultimate consumer tell is up pennies today...kinda weak for a market up 1.2% - have a small short on in there - feeling lucky.
JB
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Let's not confuse strength with lack of interest. Volumes are low which make it a very food time to push the market higher and let the trend following programs run the market. When the real players get off the beach they will find opportunity is taking profits or even selling names shorts. Hang in there timing is more important in being right in this type of market. Well....you had great shorts at the wrong time before !!
ReplyDeleteT BOONE, you are a wiseman - lets go get those dudes off the beach..
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