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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Jacob Snyder who wrote (144967)	2/23/2011 4:09:35 PM
From: Jacob Snyder	Read Replies (1) of 206085

Sold BP today, another increment at $47.65. I have been steadily selling long positions, and adding shorts, since last November. BP is up today, close to its post-spill high. Everything oily is up, without regard for the specific company. But BP gets a lot of its oil from N. Africa and the Middle East (the other European Majors are in the same position). A high oil price doesn't help BP, if their supply is threatened. The market will figure this out, if ME political instability persists. I won't be adding any long positions, until we get at least a 10% decline in the S&P500. When that happens (if not now, I'll just wait patiently) I'll be buying: BP FCG (natgas ETF) FSLR, TSL, YGE (solar)

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