Futures are up slightly even with a gloomy slant from GE this morning and oil is lower. I received a bunch of e-mails questioning my temporary long view here. Yes,I'm still very bearish but think we could get a bounce that could last a few days. Sure I cold be wrong, but 20% of the S&P is now on the "NO SHORT" list (many NON-BANKS) and hedge funds alone have about $600 billion in cash according to a report by Citigroup. I think those funds that aren't going out of business next week may want to chase a rally if things start ticking higher. Hey, I've been wrong before.
Thursday, September 25, 2008
Thursday Morning
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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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