You may have been wondering why I have not been posting much. Well, that is because I am basically on the sidelines waiting for the dust to settle. I do have a position in TBT, UNG and short KRE. Other than that, the waters are too dangerous here. Can't play short with the technicals clearly indicating a strong market right now. That will change, and soon, but we could see a 990 s&p before that happens.
May be time to move out some long positions from college funds and 401K's. Earnings reports are good on the bottom line but I am not impressed with top line numbers. Commercial RE will be the target after the dust settles. That means, short KRE, playing SRS on a trading basis, and trading some regional banks such as Regions, SunTrust, BB&T, etc.
VIX is very week, so another indication you can't put a lot on the short side right now. Too late to play long. good luck
Thursday, July 23, 2009
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