Friday, November 13, 2009
Weakness in Crude
Well, this market is hanging tough despite crude oil selling off in the past hour. I view crude oil as a canary in the coal mine. It is telling me that the speculative fuel for this rally is running low, and stocks are near the end of their rally here. But I have decided to dance between the raindrops and I am bullish for today, as short covering comes in and longs decide to add exposure before Mutual Fund Monday. The European markets were basically flat from today's open to current prices. Yet S&P futures are up on the day. That is what you call the overnight premium.
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9 comments:
You're still holding your long?
I think you should sell it dawg. I feel wreckage a comin.
I'm holding the long, I will probably hold it to the close.
I expect us to close near the highs of the session. I feel the wreckage coming too, but not today.
I think we're gonna have a range today.
I don't think much is gonna happen today. If the past is the indicator, if the market range trades a day or two, it shoots up like 1 or 2 %. But it could go the other way too.
Check out RINO. I think this is a good short suspect. Double top, maybe will go a little higher. But I think is going to 20 bucks.
Check it out. NLST. It's a pump and dumper. I haven't seen a stock do this lately. Short fo sho.
Nice little trade though dawg. You called this one. U go gurl
NLST seems like its on day 3 of its pump and dump. Looks like a short to me. Today is probably the best to short the sucker.
I would short it if I had bullets left. But I just bought all these stocks and they all went down like 20% each on me. Hahah. I turned into an investor this time.
Looks like I won't be trading for a while. I'm not taking any losses.
Short NLST man. 100K shares.
Market Owl (actually Hawk!): talk to me: where do we end up today? I won't hold you to it. Shorted like a fool but am not down very much. I am in TZA, tripps small cap short. thanks a bunch
I think we finish strong today, if I had to make a guess, I would say 1096. I do think we will be weak next week, and will lean short if we get 1096 near the close.
You picked the right sector to be short, small caps have been the laggards of this rally.
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