Guess I am too free today. I saw this chart after arriving back from school. It looks like the market has decided to start its freefall, not that free though as there are many supports along the way.
Reasons to believe that investors may flee to safety amid the mortgage mess that may derail the housing recovery (what recovery though!).
Flee to safety means back to the GREENBACK. USD will rise again. This is bad for the inflation trade.. .Out of commodities stocks now? I think we should cut some. I am cashing out all of FCX at $100 now. After a nice run up to $100.
It’s not safe to short it now. But it may be soon after the confirmation of the bearish trend.
The confirmation might take awhile. It is not confirmed just by today’s redness. The market has to drop for another 2 more days to confirm this bearish reversal. Meanwhile, I will just stay out and enjoy the ride of my PROSHORTS.
-- clarification regarding BAC.
I will add more positions abit lower now, given the change in situation. I will update about BAC later on.
2 comments:
I don't know what is your position on BAC whether you are buy or short sell. You screw your readers dude.
This is my positions right now, BAC, MGM, AXP, INTC....short LEN....Happy trading guys...
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