Natgas has dropped below $3 bucks this morning and CHK has rallied 1% or so. I told you people up is down, black is white etc... The last time natgas traded with a $2 handle CHK was trading below $10. Last check CHK was trading $23.09...food for thought. REITS, banks, tech its alllllllll up - happy days are here again. Did you notice how quickly the jobless claims number was dismissed and the better than expected Philly fed number was embraced? I shorted nasdaq futures at around 1608 - this euphoria is so overdone - the hair trigger response to scoop SPUZ is just tired, stupid, played out. Im getting more beared up as the minutes pass.
If you buy SPUZ here its the same as flipping a coin and getting heads 99 times in a row and figuring you will get it another 99 times. Good luck with that.
JB
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