Ok, I rarely rant but here I go. I just went to CNBC's website and the first link reads "Economy shows signs of recovery". I'd like to know what the hell they are looking at. I'm not a brillant guy but forreal what data are they looking at? Jobs are falling monthly, consumers seem to be saving, not spending, and housing supplies are still very high! In addition, I guess they missed AXP's warning on credit card defaults yesterday. Meredith Whitney believes that's the next shoe to fall and she's been dead right all along, why bet against her now?
I mean we have a bear market rally that could last a bit but I really don't think this is a bottom. I wouldn't be surprised to see this rally push the S&P to 800+ or even last 6 weeks until the "sell in may and go away" trade goes down. This may setup for the best short selling opportunity in a long time, in my personal view.
To be continued-
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LOL
ReplyDeleteComing back tomorrow?
ReplyDeleteWould def love to see a post in the next week or so about some 1-3 month time horizon plays buy/sell to catch the next downturn. I also agree this rally is not going to last long.
ReplyDeleteDennis - I'm back man
ReplyDeleteMike - Ok will try to post over weekend. I don't know if you have seen the 'Healthcare Value Plays' in the 3/8-3/15 archive. I really like names like UNH and CI, even will a run up.
*even with a run up. Sorry for typo.
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