It's back to business as usual as we try to figure out the markets direction. The rally has been nice but I believe the bloom will be falling off the rose shortly.
We have unemployment figures on Friday, and that truly is the only number I care about. We all know the economy is challenged but the trickle down to the consumer is key. Banks are flush but won't lend even if your credit score looks like a very good SAT score and corporations haven't even started to feel the real heat. I'm still looking for new lows in the market in coming weeks and months. Because I'm stubborn? No. it's just what I see. See you on twitter.
Long FXP and SMN from last night. Quarter positions established.
Wednesday, November 5, 2008
Good Luck
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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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