As expected... HD earnings stunk, altho at the time of this post it's just pre-market. Do I regret not listing them on my earnings list? Sure. Do i regret not getting some cheap puts? Sure. Do I think I would have lost money elsewhere to negate any gain in HD puts? Sure. And there you have it. I am unsure of anything until something dramatic happens.
All the pro's are confused. So, how much more so am I. Sticking to mostly cash at this point is most prudent. Patience will usually be rewarded. A few more eco news on the way today... and we shall see if we get another psuedo-bottom-hope rally or another "nice" fall.
Gio: I don't even bother checking out Fly or Tim. Rarely do i check Stockbee as well. btw, Stockbee thinks a solid bottom is starting to be formed and sees dramatic sell offs behind us.
I myself will let the market speak for itself, i know i cant outwitt the market consistently enough. Anyway, there are still a number of overpriced stocks out there. But the leader stocks are all "broken" for now and thus the indexes have somewhat stablilized with a gradual trend down rather than dramatic falls.
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Stockbee could be right... There is NEW leadership out there, mostly in metals, agriculture, and coal. Its weird. Its not the type of leadership I think is strong, so ill hold off from going long. The only stocks I'd go long are china stocks. They had a nice consolidation period and are gapping up as they should. I noted on my blog that there are key resistance points in some of the dow components that have led us higher... Watch the following carefully: intc, msft, hpq, and bac. Can u point out the resistance points? Pull out a 6 month chart and you'll see we're due for a pullback on these 4 monsters.
Oh, btw, I got into a car accident... Stupid lady did not yield and just took the left turn, I couldn't stop fast enough so I hit her. I think my body will be sore tomorrow. What do u think I should do?
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