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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (46355)	11/30/2005 10:14:50 PM
From: orkrious	Read Replies (1) \| Respond to of 110194

Do you know of anything new on ANO? Platinum has been on fire and ANO can't even muster a small rally. It would be hard to find a bigger dog.

To: russwinter who wrote (46355)	12/1/2005 12:05:29 AM
From: Mr.Creosote	Read Replies (2) \| Respond to of 110194

You are not the only one who got caught on these rallies. Over the past couple of years anybody who dared take naked short positions via index puts/leaps and not exit or cut losses when the stampede starts has suffered. It is not just the "riskloves" who deserve credit for these moves, there are many systematic traders with "trend following" systems that simply pile on and help make the new highs. This latter group does not care about valuations, the economy, the housing market, consumer debt levels, gas prices, and the like. They simply place bets in the direction of current prices and use volatility-adjusted stop loss orders to get out if wrong. The market is basically a casino at the moment. It is making new highs while the Fed is still raising rates and with real estate inventory reaching new highs. Players ignore this stuff and place bets on trend-following, seasonality, and what the markets usually do in years ending in "5". Who would have thought it would come to this?