What has been strong is very weak and what has been weak is strong. Commodities, soft and hard ,are getting spanked and the red headed step children are getting gobbled up. In my opinion, a very interesting dynamic is setting up. If Bernanke comes out less than hawkish on inflation, everything that we have seen happen this morning could quickly go the other way, and in a hurry. It may just happen anyway. I've been short some XLE and OIH. If things change I will get very long those two. If the market buys into Bernankes plan to curb inflation, I will stay where I am.
P.S. DTO that I posted a few days ago is having a good day.
Wednesday, June 25, 2008
Be Ready and Be Careful
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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.
1 comments:
looking for a rally in OIH and XLE (even if there is a knee-jerk down)
until there is disaster from demand destruction the market will continue the way it has been
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