Friday, January 18, 2008

Lunchtime update

I mentioned yesterday that I thought the dry shippers were done doing down as they exhibited great relative strength. Today DRYS,EXM and even my favorite short GNK are trading much higher. The lesson learned here is that so many names are ridiculously oversold and when we do get a bounce that sticks, it should be vicious to the upside. SIGM is up about 5 and SKF which is the ultra short for real estate was up about 11 pts. at one point and i caught it for a few.I have no faith that we can hold gains into the close so I will be light on my feet.


About Me

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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.