I’m still short and loving it. Today, it wasn’t just commodities but financials and tech too. I hope you guys took TXN, KLAC and BRCM from last night and this morning’s post and more importantly I hope you are using this blog to help you make money. The pundits on CNBC are walking around like Stepford Wives-totally clueless. Why is it that every time CNBC has a “short seller” on, it’s telegraphed days ahead of time, as if it is some kind of new found strategy? They should have on ten short sellers a day talking their book in this environment. Why not? We have hundreds of boneheads talking losing long strategies that go on ad nauseum. I’ll never figure that one out. I guess it would make too much sense and may actually help people see both sides. God forbid.
Tomorrow morning we have the unemployment number. This number has become THE number to watch. Frankly, I don’t think it will matter either way, because I think the market has made up its mind where it wants to go. I don’t think the financials would have gone out the way they did if the market was afraid of a short squeeze in the morning.I could be wrong, we are oversold and when we do rally it will be big. I was dying to take UYG and BIIB home short but I didn’t just in case. Still far from a “takehome” market. Way to scary.
How did everyone do today? Any interesting trades? Let me know. I have been receiving some great e-mails and comments lately. Let’s share the wealth.
Pay attention to my call on the chip stocks, the $SOX hit a multi year low today. More room on the downside there to. Going to suck some clams off a shell on the water now. Later.