Thursday, July 24, 2008

Lunch Update

Real quick here. IBM shows relative strength and has been having some predictable bounces off $130, if we rally it could run. I covered XME and CLF on that last thrust down. Seems so oversold in basic mat,,etc. Actually long some POT from $194, gut feeling they may rally ferts, just a gut feeling. Financials are on the chopping block. Check that WYNN? I'm watching to see if they continue to blast coal and steel and ferts, maybe they rally em. Stay tuned. I'm ready either way.


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.