I'm looking for weakness in oil and gold this week... and bottom picking this stuff on a good panic....
I don't want to talk about oil till it's 85 bucks... and I'm defiantly a buyer at 78, with all the recent speculations, I'm looking for crowded exits for it as a buy signal... Like down 10 bucks in a day.
But..
I may be smelling some weakness in some mining/materials names. I may pick up some mining stocks....
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Monday, November 12, 2007
The morning smell
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