Monday, April 6, 2009

Waiting game...

Todays action seems blah... i barely look at the market being that i am mainly short financials via FAZ and FAS puts.

The one thing i wish i had a small positionis SRS. I would never have thought things would get below 40. It has never been this low... It peaked last year in the mid 200.

But of all the sectors waiting for the crash i think it is (1) Financials (2)Tech (3) Retail.

Thus, this bear rally looks mighty technical to me. The reality is that we are no better now. If anything all those who avoided getting into debt are now enjoying buying up cheap houses, cheap vacations, cheap electronics. All the stuff the wannabes were buying on credit.

Anyway, i myself am waiting for a particular cruise to really get cheap. If it does I am all aboard.

OWN... FAZ/FAS puts, NOC, TAN...
WATCHING: SRS... and the following sectors.
retail: M, SHLD, TGT
energy: DUG, OIH

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