1205------1225 on the CASH, hard to say at this point with the institutional players doing everything they can to put a hurt on the hedge funds. The institutional players have been cycling out of their crap holdings and into more longer term defensive positions {for the downturn in the economy they see ahead}. Health Care and then some of the Financials and several Tech plays should stay strong here as they shift out of cyclicals and other low performing groups. Institutional players started to put the hurt on many Hedge Funds over the past 6 to 7 weeks. Yes that sudden Kirkorian GM stock bid scam was brilliant to start the attack against prime Hedge Fund core short holdings and then oil was suddenly getting knocked back below $50 a barrel at the time, oh yes that was another Hedge Fund group primary core long holding. So the big Hedge Funds were now getting the double whammy from the big playa's who kept flooding in volume to push this market up from the early May lows. See the big boys just could not sit back and watch themselves get beat at their own wealth transfer game as the Hedge Funds continued to pull more and more liquidity away from their pockets. The Hedge Funds had better returns and that had to be dealt with so here we are at 1204.99 on the cash with $60 a barrel oil. Several large Hedge Funds have had to liquidate very large holdings to pull out of margin calls over this period, but the recent run in oil prices may be what saves some of these funds from huge losses this year. This game is not over with yet, but lipstick on a pig leaves you still with just a pig.
I like your style. I also think there are several other asset classes that got the big ole squeeze during that same time sequence.
Yes-----I agree. I have been watching the sector rotation like a hawk the past few weeks. I also watch the put/call ratio's for numerous sectors and indexes, so if you are heavy long here stay alert.
Give the bird his due! Again, market crapped out @ 1205 and this thread is making the bird look damn smart!!
Nice call... so far... As long as hurricane season blends into an early winter... your call could be the call of the year! If I were a betting man... I would take that bet. However, oil could turn out to be a bubble in and of itself in which case we have the spare parts to make this climb higher. really wierd time to be a buy and hold investor... once again great job!
Rubberbird, long known for being a strong proponent on the war against terrorism and al-queda scum, does not want to be correct due to terrorist activities. The S&P would have incurred trouble without these ghastly attacks, and the Bird never likes to profit from something like this. Now people may once again see why the war on terrorism is a long and painful process, and that Bush is doing a great job. Let's remember al-queda is scum, and they need to be removed one by one, until the last piece of manure is killed.
thanks amigo. I'm going to defer on making more calls for today, as I don't like profiting from terrorism and al-queda scum.