Oil futures are up about $1.50---again, even though there is enough oil to fill up Giants stadium just sitting in San Francisco bay this morning. New homes sales are out this morning and everyone seems negative on financials . UBS is looking for more pain ahead and Dick Bove, the Dennis Gartman of financials is very negative on the group. I just don't see meaningful upside with financials under pressure and energy in such a strong uptrend. As we all know things can change on a dime around here so let's stay ready.
Tuesday, May 27, 2008
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About Me
- upsidetrader
- 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.
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