I'm thinking about going out into the yard and dig that bunker. I'm dying to know if we will see those bank runs in the next 2 weeks.
17.50 on the xlf
Nothing but Scary....
I dumped every equity I have today. some of the pharma some of the noncyclicals health care could still run. (except the short hedge, I'm happy to lose on it on a rebound)
There is too much whistling past the graveyard, going on
I don't want to play. This isn't any fun.
always money to make somewhere else. I'm never missing out on anything. There will be other days to invest, We will either get an obvious bounce, or we will see the no confidence vote.
I need a walk.... I'm having a hard time owning equities until we see some bank stabilization. I would like to see the financials not be on the front of the Journal for a few days.... Though Ripe for a rebound.... Been saying that for 1.5 months.
Take our minds off of them and maybe the can get some stability.
hmmm, what could I make money in for a week or two.
Monday, July 14, 2008
dig the bunker
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http://www.ocregister.com/slideshow/bank-people-time-2093028-federal-indymac?pos=0
If??? Definitely ask "when".
Those who had no idea about what's been going on will take notice after this.
I'll say this has a minimum shelf life of 2 weeks.
hmmm Hold cash till the market hits 6k...
If you look at the 74 charts, we literaly melted down day after day after day, just a little bit.
I hate to say it's going to repeat. but that is starting to smell right.
Why do they get it now....
and how do I trend trade when there is only one trend....
there are about 6 things working. days they will break down....
.05 jump in overnight libor.
Credit Freeze within 2 weeks. if not this week.
Hey, Thanks for being around to bounce this stuff off of.
Besides my fear of being short... what do you think the best index short is... Naz, Retail, financials?
maybe just all 3.
Just pile into SKF and take a 2-week vacation, ha. This is my plan for tomorrow. Not afraid of the bounce, and may add if it happens.
Remember, I'm swing trading only. SLW and GLD have been my go-to's these 2 weeks.
Right now mostly in cash.
I whould short spy and cubes but I think more money to be made in other places (such as SKF).
My extremely biased pick: short FSLR.
I'm going to short US$, that's for the rest of the year, hope it bounces a bit.
Though I'm here, I don't feel I help you at all with short term trading.
On second thought, if S&P breaks below '06 support I will short. Tomorrow will be more interesting than today.
Funny: WhyTF is COH up today?
It was on my short list.
with Ben in for humphry hawkings I wouldn't' be surprised if we will test 10500 in the next 2 days.
Excuse me, because.... Long weekend and A lot of charts. A short relief rally for the skf in the morning, and it will be ready for another move lower.
COH hit the jan low, and the shorts Exited, to reload.
COH has some more sideways action to do... 1-2 more uptrends, Maybe hit all the resistance at 26.8.
But as Grim as things look, Maybe up futures will take care of it's upward momentum. Then retest 25.2, then 23.7.... Retrace 24.8-24.4. then it will break 23.6..... Or something.
SPX... 2 more bounces of 1225 and we should go through. 1 great beartrap violation with a 50% retrace high to low. Maybe about noon.
the q's, let apple report, then they should start breaking down like mad. There is a lot of pain yet to be had in that market.
We are ready for a lot of pain.
We will see either bank runs or hyperinflation talk scare the crap out of the market. Those are the next shoes. I was thinking we would get some Sell the Rumor, Buy the news, in banks but even the ones that report 'ok' are getting pushed off the cliff.
There is nobody to save them, You can't get financing to buy one of them out.
there will be 2 types of banks left. Those that didn't actually need the capital markets, and those that are bankrupt.
Hundreds of empty bank buildings, Because nobody can even buy the buildings.
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