Recs
February 25, 2008 – Comments (8)
Why the H-E-double hockey sticks were all my stocks up so much today? I mean, a few retailers jumping 3-6%. What on earth happened (aside from a rancid housing number from the nation's biggest housing cheerleaders) that would cause people to suddently think things were great?
Don't get me wrong, I think they'll be great eventually, but the difference between last week and today?
Hmmmm.
Wow. Maybe retailers are coming back but I cannot think that they will rally in the context of the technicals of the other indexes. I mean ok they are in a momentum bounce back phase for the last month or so but the final leg of the bear market doesn't seem to be over. Look how crappy the up volume today was on the DOW and NASDAQ. I totally agree with you they will be great eventually. I am in dismay it held up so good. Would you be willing tommorrow to buy 10 or 20 deep in the money calls on say JCP or on a retail index? In other words is this the bottom for retail? I mean solid rock bottom?
Isn't it investment season?
In Canada there is a rush to make retirement savings deposits before March 1st. I always think of this time of year as investment season.
Hmmm, hard to say, Bent. Though I try not to think toooooo hard about anything that happens in relation to the market. At just about 2 yrs of investing behind me I've learned that it's gonna go red then it's gonna go green, then back again.
If you figure out why this is, let me know, too. :-)
Good point on the investing season, dwot. I've never realized that before in an investing context but it's completely true. Here in the States we have till April 15th to make IRA contributions; the "Magic Day" of sorts for all things tax.
My WAG: RTH ETF With The Highest Short Interest 305% Short interest as percentage of float.
it's just the stupid ABK and MBI are not going to be downgraded from AAA. Someone should really sue S&P and jail the people that are making these decisions. whole market rallied probably based on short covering.
i'm still strong short on caps.
I concur w/ DemonDoug on the first part 100%,
On the 2nd part, I'm only there about 30%... I'm not too heavy on shorting in CAPS any longer (other than junk stocks which I will always short in CAPS if the economy is good or bad). I think there are some values out there now.
Sorry for the half baked previous post. RTH is rallying and there is a very, very high short interest, that is being forced to cover.
Concur with DD. On Fastmoney, they discussed the issue it does not appear ABK and MBI are out of the water, they have just been given more time.
Yes, lawsuits are coming, I think there is enough evidence to take down plenty of WallStreet players. WIll the sueing rival the takedown of tobacco? Actually, maybe it will....
abitarecatania,
Hate to burst your bubble, but tobacco didn't get taken down by lawsuits and probably never will. Asbestos would be more appropriate.
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