Any plays you thinking of? DZZ getting no volume????
Still getting numbers worse each month ie) housing, confidence.. I'd think the market is VERY ready for a reversal??
Posting of Real-Time Trades and a VERY SIMPLE technique that makes TRADING SIMPLE!!!
1 comment:
Joe,
I think the technicals have been broken and wont get a reversal...even if the fed doesnt lower interest rates tomorrow, which I dont think they will.
The overnight rate is really not a factor here given the special sh$t for shinola window that they have in place. Why borrow from the discount window when you can take AAA garbarge in exchange for treasuries?
Tomorrow is going to be a "see, we are for a strong dollar" play. I am not quite as positive as I was yesterday after the housing numbers came out. The fed might be thinking of lowering the rate to help Joe6pack...but the truth of the matter is that most of the ARMs are tied to LIBOR, and LIBOR doesnt give a rats a$$ what the fed does.
I am keeping most of my money out of this market until we get into a steady pattern. I am a big believer in Puplava's oreo theory...and I think that is going to be in place through the summer.
I would bet we see 13000 next week.
I have written covered calls on all my miners and on my two skf holdings.
This market is still delusional and will be for some time.
Remember the consumer feeds this train. Conductor Ben can drive it only as long as it has coal. :)
I am still trying to figure out how to make a smart bond play. I need to sit down and think about it, but with Liza in school and the girls and the coin biz and my real job, I dont have much time!!!
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