Like many of you I also during the holiday break had varying conversations on a wide range of topics with either family members or friends. One topic that came up many times was where the stock market would end up by year-end. People gave their differing opinions for both higher and lower guesses. However, what seemed to be missing from any of the discussions was whether the rise was valid or not. In other words, just why was the market at these levels to begin with? (more…)
Here’s tonight’s watch-list: (more…)
Yahoo is getting close to closing a gap from nearly eight years ago at $38.96. I am not in position yet, but I suspect that, with any more strength, Yahoo will become a really cool short.
Urban Outfitters (URBN) is one of my short positions, and I found out today that – honest to God – they have a $200 bear coat (which kind of looks like it’s not exactly made of the finest materials, to say the least). In spite of this nod to the ursine set, I think it’s a great long-term short. (more…)
Grrrrrrr. I hate what this market has done to me. I was looking at the ridiculous “bad news is good news” ramp this morning, and I was staring at ths SPY thinking, “OK, this is the most obvious short set-up in the world. Only a moron wouldn’t short this rally.” But I decided to be a moron and do nothing. And, bang, as God intended, it is falling apart. Reality is starting to enter the market again, people. Set-ups that look good probably are good again. The Fed is starting to lose control, bit by bit. In the end, we’re going to win. But we can’t win unless we’re willing to step up. (more…)