September is tuff on stocks. The S&P is selling off to the tune of 2.1% , the nasdaq about the same.
REITS are getting pummeled - I got no problem with that, AXL beaten for about 8%, the Darkmatter sector is reeling. I greatly reduced my MPGpA holdings in the last few weeks, perhaps it will get sold to a level where I might want to buy again. A few weeks ago I took a flyer on some BAC puts (basically fading the ramp on the John Pauslon announcement), BAC is getting hit today (-4.3%) so I bought some common against my puts. There really is no where to hide today.
The bulls are going to have to pull some major horns out of there assses today to rally this market - but can't fade that as a possibilty.
Natgas continues to get killed, and CHK goes down grudgingly - I think CHK is a $17 dollar stock in $23 dollar clothes.
I took a shortterm rental on AIG right here - looking for a quick pop -and then out.
JB
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