Ok, hang in there with me. I’m watching some stuff after hours and I’m maxed out on my multi-tasking abilities. There seems to be a steel beam in that ceiling of resistance in the market, but they sure are giving all they’ve got. Check back soon!
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4 Comments
May 1st, 2008 at 5:32 pm
Nice day today!! It’s nice to see the markets going up.
My positions in DUG (short oil), DZZ (short gold ETF) took off today. I added a little more to my POT short.
I can’t get enough MU. That stock has been on fire. I will continue to add to my long position on pullbacks. FXI was up a little.
It looks like the S&P wants to take out resistance. If we have a few closes above 1410 I will start to add some long exposure to my portfolio. Stocks like AAPL and RIMM went ripping higher today.
I can’t believe I didn’t get really long the market the day it held up after the Bear Stearns announcement. That day was a real “tell”. It has gone much higher since that time and I was “mostly” cash. My bad!!! Missed opportunity on an easy tell.
May 1st, 2008 at 8:34 pm
Did well with my oil puts as well over the last two days although I bolted a tad bit early at 90.27. Looking out for what to do next but I agree,depending on the jobs number tomorrow, a breach of 1410 is most likely with a sharp run to 1425 or so after that. From there I’m betting on a big drop to May OPEX and and rise to higher levels there after to June. From there we finally get the big crash. Of course that’s just my guess and I’m probably as correct as Dick Bove is on the financials ;o)
This level of optimism(delusion) truly is a sight to see. Almost has me convinced!
May 1st, 2008 at 8:36 pm
It wasn’t an easy “tell”, but it did tell us a lot.
May 1st, 2008 at 11:53 pm
Lisa…I look forward to your comments about the day. Objectivity is hard to come by these days. Everyone wants to call a bottom and break another Dow record. Thanks for calling it as you see it. I’m convinced the dreamers who are in full control of this market are going to wake up to reality.