Tuesday, March 4, 2008

Food For Thought

As you folks may remember i shorted MOO last week as I thought the agriculture sector was getting frothy. I'm up 4 points in the short and I see another group that looks like a mirror image. As I said in the post on MOO I don't short strength but don't have a problem shorting for short term profits in the frothy stuff. One that has caught my eye is the XME which is the SPDR metals and mining etf. I think it's a very crowded trade and there has been substantial put buying. I will consider a short entry after a little more homework on the group. Just saying...

2 comments:

Stewie said...

MOO was a sweet short. Wish i took it too. Will Watch that XME.

upsidetrader said...

thanks oh great one-you da man

upside

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.