Well we are 2hrs from the close and the market is up nicely. The only problem I see is a kind of reluctance up here. We gaped big and ran with a pullback as oil gets wacked. If you notice the bonds didn't rally on the CPI data probably due to most of the "inflation friendly" report was skewed. It seems to be low due to the discounts offered from the big 3. Thus, yields are creeping up. Does this mean we crater? Don't know, but being we are overextended in many issues and sectors like biotech. Look at the BBH! Thus I feel it is dangerous to take any big positions. I am pretty much cashed out sitting and waiting for a better buy point or I will play a news play or the next "low float" flying pig. For example, BOSC was a buy on the open and ran nicely on news. I made nice on it but didn't get the most out of it due to the history of this thing selling the pops. So now I wait till the next tuna runner.
One thing to note though is when you have wild speculative runners and a perception of no risk, it sometimes marks a shorterm top.
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