Healthcare Needs a Medic

Today we learned of a $1 trillion tax increase and a $650 billion down payment to overhaul the health care system. The health care stocks didn't like what they heard so they sold off with reckless abandon. Here are some names to keep an eye on in the coming days and weeks ahead. Some will be continuations lower but some will bounce, that's when you shoot them. I will keep an eye on these on twitter and will update. For the time being the best way to play is probably through the ETF which is posted to the left. If anyone knows of a double short for health care please let me know. The hits just keep on coming.

Senior Moment

I posted earlier that I was done for the week because at the time it thought it was Friday. I am chuckling to myself as I write this. I think I should take a three day weekend. Still chuckling, really. I think I'm a little burnt this week. Did anyone else think it was Friday? My wife did , maybe because it was our kids last day of school. Anyway, the market staged a nice rally when oil rolled over, and the financials were not to be stopped today. STI (short) was a huge win as well as PTEN and ESLR long. The latter was hard to play as it gapped, but the dip was to be bought and it rallied beautifully on huge volume. It was posted here last night.

One day of short covering doesn't make me bullish on financials or bearish on oil, but it does make me look twice. Just say oil does roll over, where does the money go? Financials? too early I think, although I am starting to look real,real hard at WB. Soft commodities? No, they will go where oil goes and are way overextended. Basic materials? Steel, especially X is on fire. Health care? Decimated today off the CVH news. Ouch. I used to trade that one. The only think I can think of is technology. I like ROM (double,super duper ultra long etf)

Tomorrow is Friday, historically my worst day of the week but lately I can't be stopped. I am going to trade piker small tomorrow and put this week in the bank. I'll be back in the early morning unless I see a chart that you need to see.