Wednesday, March 26, 2008

Can't Take Housing Sector Seriously

XHB got banged up pretty good and went out near the low of the day and the housing sector looks iffy at best. The financials gave some back and Oracle just fell short on earnings and that is taking the stock and the QQQQ down pretty hard here. Oil rallied big and I am still up on my USO short with my stop in place. PCU went up again and I am about a point down on my average short price around $105. I think GLD can muster maybe another point or two to the upside,technically speaking, but will then resume its decline. Still bearish to be honest.


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.