Energy is coming down and the market is being led by the financials, when was the last time you heard that? Earlier I thought they may rollover but they seem waaaaayyyy to strong. If they rollover today I would be convinced the market was on the precipice of a 1000 down move in a hurry. In the meantime if you can't beat em, join em, at least for now. I did well on the energy shorts, it happened very fast, I am now lightly shorting the rallies there. Funny, I usually short the rallies in the financials, today I am buying their dips. Things do change on a dime, don't they?
A long way to go and anything can happen. Good luck. Things do look higher.
Wednesday, July 16, 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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