has anyone considered the idea that buffett has enough ears out there that he knows that the forced liquidation that took us so low is done?
Crude oil has been creeping higher all day long . . . now +$3.70 and that is creating a lot of bids in the XOI and OIH. Nat-Gas and Coal stocks strong too. This provides a pretty good "bid" to the SPX.
i was shorting this mornings rallies but i am extrremely reluctant to now...market seems to want to rally off lows and make new highs later in the day.This happened yesterday as well.Maybe time to start considering buying the dips...
Don't forget the super strong earnings in BTU yesterday . . . which is now lighting up the entire COAL sector, including the likes of laggard JOYG which obviously has been under pressure due to lack of financing for mining equipment. Lots of stocks being "pushed" through various strike prices on options expiration today.
remind me to fade your next call at 10X margin. once again my timing PERFECT. As soon as I mocked your ridiculous call, mkt wen straight down.