Monday, November 10, 2008


The market has no firm direction today... If anything DUG calls would have been a nice day trade, but i dont do such things with an account that is so meager it would make you laugh.

GM price target... is $0. PLEASE NO BAIL OUT! I say let someone buy them out. They have some of the ugliest cars in the world - they deserve it. They havent figured out that cars need to be attractive too.

Either way, my long calls are set for any GIGANTIC bull market if its heading our way via POT & AAPL are my main hedge (turkey rally or just plain turkey)... tho i my choice of AAPL may have been a mistake since they sometimes trade in a bubble (market up, AAPL down & visa versa).

The different views out there provide no solid direction either way. Just much caution. The views include
- FLY hating on HK while it sits in the green
- Tim trading DUG as it opened down nearly 8%.
- Gio has an IBD watchlist with VIX in mind
- Stockbee mentioned a 21 day range of 'subsided' selling
- MAC had some leanings towards a weak bottom, but he has no trust in that.

So i am sidelined at the moment. The last hour of trading will likely speak for itself. Their are no U.S. Economic until Thursday. ALOT of bad news can come our way quickly (jobless claims, trade balance, retail, oil inventory). Hmm, you would think those reports would signal a crash coming our way. Thus, It might be wise for me to wait til then...

No comments: