At the same I have to prepare tax filing for the year.
After learning the Treasury plan is going to cause taxpayers few more hundred billions, and knew our Treasury Secretary cheated on his tax return, I open and close my TurboTax software a couple times without doing anything.
US Treasury and Fed acts on toxic assets won't turn the economy as consumers are broke and corporates are cutting expenses to stay alive.
This is still a hope rally that will wane overt ime.
Gold will continue to rise due to Fed's action yesterday.
Energy (ERX,ERY) and commodity stocks (SMN) are suprisely strong today. Will money continue to rotate out of financial (FAZ, SKF) sector into commodity stocks and energy stocks?
Story: Whitney: Banking Woes Likely to Get Worse in 2009
"In fact it will look worse because there's so much credit coming out of the system."
More lending = more loss.
Need I to say more?
This rally will not hold longer. DOW will soon test 6500 again.
I'm shorting GE@10.15 in real life now ...
Their (Citibank) past records speaks all.
If you want to join the herds to kill shorts for a day or two, you have to act quickly. Otherwise, thing will return to NORMAL business.
Talk is cheap and that is only thing C's CEO Vikram Pandit or FED chief Ben Bernake can do now.
20 minutes after market open. Bernake is talking. Sound familiar?
I'm unloading 30% of my longs and turn them into shorts.
REITs paid dividends to their shareholders and seldom tried to pay down their debts.
Now with high unemployment rate, vacancy is on the rise. Many of them are cutting dividends left and right and some of them are trying to fool you by paying you dividends in stocks.
People who are seeking dividends now by buying REITs are nuts.
SRS is going to the moon (I raise my target to $150)...
Look like FAZ is passing SRS to reach $100 target.
SRS @ 98
FAZ @ 99
I'm looking for capitulation day on 3/20/09, option expiration day.
Firmly holding FAZ and SRS till that week. Slightly unload 10% of shorts and bought QLD, basic materials like AA and X. Now my shorts/longs ratio = 3/7
Capitulation is the only hope for bottoming (still for 1 month rally only afterward).
I think DOW is going to 6500. SRS @ 88 looks like a buy ...
- More bad news on banks, AIG/HBC (no suprise!)
- Confirmed TA support broke (GV, can you confirm?)
- Obama sectors all down big, solar, basic materials, infrastructure, ... (hope meets reality)
- Insurers are under great pressure now
- FTSE down 5%