Looks like there’s an uptrend and it seems to be still butting up against resistance but the market looks strong because all the negative news is priced in until we have some thing else insane happen which will probably happen the end of this year. I wonder what will happen as we take all this toxic bonds from lenders in exchange for cash? Seriously they are giving the Fed the worst of the worst and the Fed is taking everything. I guess the Fed can wait it out but the loans are short term. This is like a huge band aide hoping that the debt market will recover. There are signs but not quite clear yet. I know the market is up from here until we hear differently. The new blog will be up soon. Mister Bull. I’m abandoning this one. I’ll be more dedicated with much of the blog devoted to recommendations for research and analysis. But I’m holding Mr. Softie (Microsoft) and Terra Industries (TRA) and short COF (which isn’t treating me so well right now). But Cheaspeake Energy will be my stock for the rest of the year. Summer will be torid and so will energy demand.
By the way, if you read Trader magazine there is a great article about John Burbank of Passport Capital and how he made all the right plays with energy, shorting subprime, India and something else. But all the right plays. he has a macro-economic trading view point. No quants. Just insightful research. Here is his story on Trader Daily’s John Burbank story.
