Discussion in 'Trading' started by bat1, May 20, 2010.
Just Short everything, you name it short it!
A little bit late. I believe we bottomed today. Europe tried to open green today but closed red. That shows that tomorrow should be green (That is my opinion based on pure experience). I believe from today, shorts will be in trouble if they don't cover. Now shorts are getting greedy.
+1 Short Everything
Expect a significant and fast drop...
By Next Expiration:
ES < 1000
EUR > 1.3
I would not think it wrong to cover here, as we will likely have a severe squeeze soon, maybe by this afternoon close, as tomorrow is expiration. Still I see the strong support in the 970-1050 area, so i'm anticipating further downside in the next few weeks after the squeeze. I am now fully hedged and just riding out the storm. If I am right and we do drop below 1050 I plan to use remaining cash to do a little buying. I anticipate a rather weak market into the Summer but surprisingly strong September and October going into the November election in the US. By then the Euro zone should be more settled. I particularly like Norsk Hydro (NHYDY) below $6, (should get to 5.50-5.35 or so). Being Norwegian they are not part of the Euro union, but are nevertheless being treated just as rudely. Hydro is a long term play, but NHYDY should bounce very rapidly up to 6-7 once the smoke clears. Nice dividend (usually).
NHYDY had its move. 2004 to 2008
When the "X" suffix is eventually dropped from it's ticker, it's going to have an orgasm.
Insiders own a chunk,
Oh that's right, you don't have that "long" of an attention span.
Just imagine what will happen if US market closes green today? That will cause Europe and Asia to rally over 3% on Friday.