A surge in oil has solved all of the Bulls problems - Huh - what you talking about Willis? You heard me - higher oil is leading the market up today. Mondays 165 point drop has effectively been erased by a snoozefest yesterday and a 20 point reversal today (spurred on by a rally in oil - again - huh?) which is not fading one bit.
I got a call yesterday from a salestrader who was encouraging me to get long HOV - I said why would I buy HOV when for the same money I could buy HOVNP ( a preferred in the name). He said HOV has a preferred? - yes it does - he takes one look and says its not liquid enough - so hes willing to trade down in the cap structure for liquidity - who cares what makes sense....the real reason is that he is planing on "renting" the stock (he's playing for a quick pop), he does not believe in the company - so liquidity is paramount. You always have to know why you are doing something.
No great ideas to share with you right now...so you get to listen to me opine instead.
JB
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment