Thursday, June 12, 2008

Holding The Line

The market has never made it easy for any of us. Retail sales were pretty good and oil is down a couple bucks as the greenback shows a little strength. Futures are up nicely and it looks like everybody forgot about the miserable action yesterday. There are some real negative issues with the banks again this morning and I don't believe any strength can be sustained with that important group in turmoil. I consider this move a reflex bounce, for now, and don't have much confidence in these gaps up. I will most likely be using strength to add to my short exposure.


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.