Well selling V has now fully eaten me in the butt. Its well over where i sold. $78/79. Mind you i do believe it will keep going up albeit eventually. Do i regret selling? Yes... Do i wish i bought below 80? Yes...
My USO has taken such a beating. The whispers are that Oil has peaked. You know what, i dont believe these guys. True, the media is pumping the belief that gas will go up indefinitely. The mix signals are burning everyone to some degree.
Something similar came when the street dudes burned all the shorts on airlines. If u look at my past posts i was in disbelief how that rally happened. A fake out to the greatest degree. If you look at them today... Most if not all are single digits. I havent looked at hotels yet. But they will fall this summer as well. Hawaii alone has booked the lowest occupancy in months...
Now as regards USO, the storms/hurricanes would obviously spike this thing. But it is all speculation. If USO dips below 100... It's adios for me. It looks like i will be back to meager cash when that happens.
My buddy elsewhere has a LONG recommendation on UA. I for the most part agree. It is the next Nike. It is just above its lows. Anyway, the fact that it is cheap mid 30s has me taking a serious look. The economy just stinks and any company that just meets earnings may be all that is needed to get through these bad times.
The ultimate LONG out there is still out there. AAPL. Look for a possible spike this friday as details of the iPhone 2.0/3G whatever will be out.
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