Berney; RE:" Waitressing for Godot "
The Honk recovered ~4%, traders say it's "short covering". The EU is recovering, too - a lot of damage done on the DAX and CAC !
Scandinavia was quite weak; Norway (non-EU) had to raise their prime rate to defend the NOKroner - weak oil prices hurt them - NHY dropped to 38-5/8, and I picked up a few shares; my next buy level is 36~37. Will the Fed/BOJ/DB pressure BigOil to reduce the oil surplus to keep Russia solvent ?
NOK.A - 1x72/2x68/3x62 there's a gap at ~70.
ERICY - 21-1/2
PHG - 1x77/2x72/3x66 opened at 76 today; didn't buy any.
WMT - 1x59/2x57/3x54/4x49 revised my buy levels today.
MTC - sell PUTs whenever it hits 52; friggin' money machine.
HWP - ain't going below ~49 for awhile, IMHO.
Yeah, I wanted to see the market tank some more, Berney - those broker stocks are w-a-y oversold, and I missed some of them the other day; fast market!
Next week is options expiry; we should rally ( kill all the late PUT buyers ;-) if the world economy doesn't collapse.
Whatever did not go down much the last 3 weeks, folks will buy; there is still a perception that something - Drugz/Retail, TechStocks, etc., are a refuge. Bonds? not much room left there, save a panic-flight.
'bottom' is usually when people feel that there is No Exit.
-Steve |
