Wednesday, March 19, 2008

Shorts From This Morning


USO- DOWN $3.50

GLD- DOWN $3.46

TLT- UP $1.58

They sold them down today which actually surprised me a bit. Maybe triple witching tomorrow had something to do with it. I still will not fight the Fed in here. If this continues though, I would start to worry a bit more. The financials need to digest recent gains and the folks that own commodities started taking gains very aggressively today. The whole complex got crushed from oil,gold,silver and soft commodities. I still think the dollar will continue firming which in the short and long run will be great for financials and stocks in general. Choppy times ahead no doubt but I think we made the turn.


Stewie said...

Nice trades Upside. In hindsight. Today/this weeks should have been a monster. kicking myself for missing so many easy trades, long and short. hopefully this mad volatility is here to stay for a while.

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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.