Shorting The Phone Book
of tickers that is. I'm throwing around red thumbs like crazy tonight. If America's index fund (GE) is suffering to the tune of 10%, you can be sure that the marginal names of the market are in deep deep trouble. Look no further than a Monster Worldwide, a company which will have no demand for it's services when the depression hits. MNST is only down 50% recently... it should retest it's old low of $8--a full $14 down from here. The events of the past few weeks clearly show that there is A) No bottom in sight and B) No company, even stodgy old GE, is safe. With all that said, get your red thumbs out and underperform any and all companies with weak balance sheets.
Also of note, I threw out quite a few bearish calls on gold miners this evening. I love gold, I love mining, I love everything about the sector, but dogs like Goldcorp and Barrick aren't making any cash out of their gold. The trauma-inducing spike in oil is making mining too expensive to cash in on high gold prices. As it is, the chronically useless GG management (ever since Mcewan left) is doomed to running GG into the ground. I like Novagold, Jaguar, and Northgate, but in general, avoid even the miners here.