Thursday, May 1, 2008


There was no post last night as Upside Jr. got nailed in the eye with a fast ball last night and I spent three hours in the emergency room. He is totally fine. I had a bit of sellers remorse yesterday after I covered my shorts in the oils and gold. It twas a knee jerk reaction on my part, but I have to go with what the tape gives me. I think now that all the drama from yesterday has subsided, I can back to thinking strait. I still do like this group short, especially gold and oil and it would not be out of character for me to initiate short positions again today. I truly think Bernanke is in lala land with his very nonchalant view of inflation. I know the Fed doesn't include oil or food prices into their inflation number but if you drive a car or eat a slice of pizza you are being max squeezed.

Exxon reported earnings that were short and the stock is down 2.50 % in pre market. Could this be a catalyst to resume the move down in oil? I hope so. DUG could be interesting today as XOM is a decent componant of thet etf. DUG would have acted better yesterday if not for the strong performance in XOM which clearly bucked the trend.

The more I think about it I think I will be getting short some GLD and USO. They are acting very weak in pre market. I'll be on Twitter if I see anything hot. Good luck today


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.