It's really tough to get this market down, considering we have 10 year yield up, oil above $70, dollar under pressure, and yet the market, specially the speculative plays like RIMM, BIDU, AAPL continued to lead the Nasdaq to another multi-year record. This is the sign of the end of a bull run.
- Unfortunately for me, I think it's very close to a sell off, but I don't know when.
- Tomorrow if we have a very strong job number, should press the yield up more and may bring down the market.
- Again today we had light volume, this is the only thing good for bears.
- I added TWM and IWM puts again. If the market take a break, Russell 2000 will lead the decline.
- The slow summer for market is here and Nasdaq is very overbought, I think either it's tomorrow, or it's next week, we'll have a pull back.
- Yesterday RIMM, BIDU all took a hits, today they ran back up. And Chinese market dropped 5% yesterday. Again these are signs of a meaningful top for a market.
- I have to wait patiently for the best entry, and so far I didn't do this right. I'm at least two days early. But the odds are in favor of shorts now. So that's how I positioned.
- I won't touch speculative plays like RIMM, BIDU and AAPL. I'll short the general markets.
2 comments:
speculative plays like AAPL ???????????????????? Since when did AAPL become speculative.
JMO, AAPL is a short. iphone will tank along with cingular and their crumy edge network.
You're shorts this time should do well next week through Thurs or so. Hold tight.
Good luck, curt
Post a Comment