May 28, 2010
– Comments (7)
There you go, the reason why shorts feeling good today.
Just in case we come to work on Tuesday with War between the Korea's
Defense stocks: gd, lmt, noc, rtn, ba
I like IRBT. Robots rule.
IBD, sometimes you just crack me up. So you think people are short because they expect a war with North Korea? If we really expected a war the market would've been dopwn 5%, not 0.5%.
What about the short-squeeze at the end of yeasterday? We were due to give some of it back. Plus, in front of the holiday there is no reason to open new positions, so there is no buying and the shorts got already closed yesterday so they don't offer any support either.
North Korea has said it is scrapping an agreement aimed at avoiding accidental naval clashes with South Korea. The announcement came as the South began a major anti-submarine exercise.
The North Korean military also warned that if southern vessels crossed the disputed maritime border between the two countries, it would launch an immediate attack. An international investigation last week found that a South Korean ship was sunk by a torpedo from the North, but that has been denied by Pyongyang.
John Sudworth reports from Seoul.
Russian the mkt is not down big yet because the breaking news about it just occurred. Look at it now down -86
I will start buying Defense stocks because you never know with a madman running North Korea.
Sold all stocks except Defense because of the breaking news of North Korean General warning of all out War just reported on Bloomberg.
I even sold NX which I bought this morning because the North Korean news scared the heck out of me and immediately bought shares of tank maker "GD"
Oh by the way Russian, I know alot about madmen and how fast they go to war without warning. I was born in the former Yugoslavia and saw first hand how one day you feel like the future is bright and no chance of war and the next day your hearing missiles shooting overhead.