The action in energy on Thursday and Friday smelled fishy, what a tell it was. Gustav wasn't "that" bad and Hannah has been downgraded to a tropical storm. I'm watching yesterday's energy short list for opportunities. Coal steel and ag will get hammered as well, so watch XME and SMN which is the double short basic materials.
The financials and technology should benefit here as well, even retail (watch RTH). I'll check in later.
Tuesday, September 2, 2008
Commodities Broken
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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:
I think we're about to see a historic day in crude oil.
I got short oil @ 142 and again at last Wednesday.
Some more of my thoughts here:
http://alphaapprentice.blogspot.com/2008/08/crude-oil-finding-bottom.html
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