Sunday, January 27, 2008

I Think We Go Lower

The Fed is back in play on Tuesday and I think anything they do will be anti-climatic anyway. I think Ben thinks he has a big fat egg on his face after Tuesdays "panic" cut. Even with lower rates the banks are afraid to lend to each other and until they start again, we are in a credit crunch even if rates go to 0 (Japan in the 90's).The "dinner and a movie" handout by Bush and Congress is a joke.If I'm having problems I'm paying my gas bill before I buy an i-pod. They say the difference between a politician and a statesman is the politician worries about the next election but the statesman worries about the next generation. We have way to many politicians pulling the strings.

The charts are sickly and I think AAPL will be seeing $120 soon. The shippers in my view are ready to be shorted on their recent bounces. I liked EXM the other day(long) over $32 and it was good for a trade but they look lower. I will be looking to short GNK on its recent bounce.I will be back later with some charts.


About Me

My photo
I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.