Wednesday, February 27, 2008

Commodities are Ripping

FCX,PCU and the gang are ripping higher. Wouldn't want to short them but I would hate myself in the morning if I bought them. I scaled out of PAAS and SLW today because they need a rest. As far as the agricultural group I shorted MOO today which is the ag. etf. I took that one home with me which I haven't done in a while. Sure there is food inflation and these guys are trading like Intel in the bubble but I'm making a bet they retrace here. I never short strength but they look toppy. I won't give the trade time to prove me wrong. I will be back later with more rivoting insight.

2 comments:

Jack said...

very disturbing that CNBC continues to hitch themselves to the greatest contrary indicator in the history of Wall Street. I guess if it bleeds it leads and he is bleeding profusely.
Is it any wonder he doesnt run a hedge fund anymore?

upsidetrader said...

bravo!!!

upside

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.