I'm conflicted as I am a macro bear( not perma) but by the same token I'm not in the business of fighting the charts. If these inverse etf's were regular longs, I would short them. I am speaking of SMN and SKF. The XLF on the other hand looks bullish. I'm misty eyed as I write because SMN and SKF have been my best friends for almost a year. It is getting harder to be short in here, however I do believe after the rally runs it's course we could retest the lows. I am however exercising caution going forward. Things change on a dime and one new piece of ominous news can change the charts. Freaking myself out now, probably calls for a single malt, three fingers. One day at a time.
Monday, December 8, 2008
What To Do, What To Do?
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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:
...."calls for a single malt, three fingers"
classic line. simply awesome.
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