The Wrap 12/27/10 Nada Mucho

{+++} Dead as a door nail, but what should we expect? The blizzard paralyzed the east coast (I was bombed like Dresden in WW2), and spent the better part of the day preventing  ‘shut in’ status. I traded a little, but nothing to write home about. China raised rates, but the market took it very well. Not a big deal.

I saw that AGM continued higher and I really like the ag space for 2011. I am starting to really think this group can go much higher. Here is the post I did a couple of months ago regarding the agriculture space. AGU and MOS have got their game face back on and it wouldn’t surprise me to see them go even higher in 2011, but I would like to get a pull back first.

I still like the oil trade here and we are up about $10 on the remaining position in OXY. BBG and PXP also look constructive.

IDT is still absorbing it’s big pop and that flag is still in tact. It pulled back today on light volume.

I am not trading much this week and I am doing a lot of work for the new year. Investor sentiment is way to bullish for my liking here and the VIX is at levels that should make us all worry a bit. I am not picking a top, but I am sharpening my sword just in case. You should too.

Previous Post
Steel Is Flaggin’
Next Post
The Morning Morsel- Bad Ass A’s

Recent Articles