Shelia, no need to freeze, just chill a bit! I thinks that AG's "hint" of easing has been built into the market since the 9/4 speech. If he doesn't reiterate that strongly, the markets may swoon. Buy on rumor, sell on news.
I dumped DO for about a point loss. Yecch! I hate that. But I reversed SII and shorted it. Although crude inventories may be down, these stocks are overbought and will retreat a bit (or more) IMO. Remember, the fundamentals haven't changed in a week, no? Also, if things get really bad in Latin America, the OPEC agreement may slip-slide away regardless of the public announcements. As Thean says, there may be a gap up, but then a fade.
FWIW, my mo-mo screen shows TNSI, NTAP (again), and NEON. TNSI looks the stongest. The APCC mo-mo worked pretty good today and I snared 3/4 point. |
