The financials are dead and going lower and the commodity sector continues to be under pressure. Today I was in the steel and coal patch on the short side. The names I played were STLD and BTU short, I posted the coal and steel etf as well to give you an idea of the action. Many names are due for bounces but I don't want to be Christopher Columbus so I am staying cautious and short.In my post the other day, I said I need the financials and the market to hit or break the July lows for me to get bullish on the market. In the meantime I'll just keep trading.
Monday, August 25, 2008
It Was Coal And Steel For Me
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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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