Tuesday, November 6, 2007

Pour some sugar on me.

With all this bad news, the market holds. That means it wants to go up and watch the shorts go screaming for the exit. I see new highs come year end. I also see the far-east settling down. Waiting for a good entry in gold, seems it makes a new high every day. Once we get a bounce in the dollar, since everyone is short, gold will come down also. My view on crude is stay with the trend, looking to get long also, but not at these levels.

Stay with the winners in equities: tech, drugs, and consumer staples. You can bottom fish, but tax selling ain't over in some others. Financials are good values, but you will probably have to wait a year to get a good rally in them. Small caps are under owned, look at some charts for breakouts in beaten down names.

Still like buywrites with the VIX over 23.

Countdown to November 17 begins......now.

No comments: