Thursday Outlook: Commodities, Emerging Markets

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To repeat, Da Boyz club is closed to you and me. They play from the big stack of chips courtesy of their primary dealer status. Despite the flow of crummy news, when you have this many chips you can push things any way you want. Stay away. There’s nothing wrong sometimes with being a spectator which is why we’re nearly 90% in cash.



Yesterday was only Wednesday and we still have two days left in the week - but bulls are definitely in charge as long as commodity prices, led by oil, keep falling. The rest of the news is terrible but ignored for now. Da Boyz play today and we pay later.

Have a pleasant day.

Disclaimer: Among other issues the ETF Digest is long or short XLV, RXL, IBB, IEF, PST, TLT, TBT, DBC, DEE, USO, and RSX.

Comments

[fatcat:]

The most entertaining and informative financial poster,ever!Thanks.

I've been trading for over 30yrs ,but I can't hang with the Boyz.Good advice..

2008 Aug 07 07:20 AM

[CLH:]

Great information (I agree with most of your remarks). I loved the remark on how a farmer can double his income (put up another mailbox.

2008 Aug 07 07:25 AM

[buyitcheap:]

Great posts as always, I thought I was conservative at 50% cash, 90%?

Question: any thoughts on the TBT or PST - inverse 10-20 year treasury ETF?

2008 Aug 07 07:28 AM

[David Fry:]

Thanks........"buy it cheap"......I have no thoughts on TBT or PST other than we're long some. "Thinking" is dangerous.

2008 Aug 07 08:21 AM

[cfant:]

Put up another mailbox? I thought that was what Chrysler, banks, brokerage houses, etc etc did.

2008 Aug 07 09:32 AM