Tuesday, June 24, 2008

Bad News coming soon... (corrected after error)

Well, it is not like any bad news is a surprise. The thing is that if things are bad, but NOT AS BAD as the market expects - then we may have a small rally. Otherwise I think the following is worth positioning

News wise Wednesday... FED FOMC & housing
Thursday...... Oil inventories, GDP, home sales
Friday..... Inflationary numbers
Next week (July 3) is the big one... UNEMPLOYMENT. some say all the bad news is expected. So, what? Has it bottomed? Nope. (as an example UAL may be laying off hundreds of pilots!... people with 3 figures will no longer spend... logic)

so i have the following on my watch...
SDS calls, SRS calls, DIA & SPY puts...

In any case it is better to wait then hope to win a losing position...

(i had to fix this post as the news for this week were in error. I originally thought FED was today. nope...)

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