basehitz

S&P 500 Short Sales Reach 5-Month Low

Since early March, once it was decided there would be a rally, every couple days somebody does something to goose the market. Another bailout is announced, or another Fed action, or another Government Sachs upgrade (or one of their evil twins), etc. Then all the estimates were so low, showing up is usually enough to get "better than expected". And while I refuse to watch CNBC (aka, Baghdad Bob of financial journalism) I assume they are relentless cheerleading. At least that's what I read on these threads.

So while I am really tempted to short retail, or other bullsh*t stories, I realize that at any moment, one of the above "teammates" in this carnival, might roll a grenade in the room. . . especially when it reaches a key critical level. Almost everyone realizes what is going on, but they get away with it every time. Perhaps when the capital raises are about wound down, and the "team" has their shorts in position, they will decide to let the air out. I may wait for an SPX break of 875.

I have been trading only energy and only long for a number of weeks. I sold everything again today early. Has been my best month in a long time. Frankly, after a pretty rough period, it is a relief to finally start scoring consistently again. But I will try really hard to open no new positions until next week, when the casino will be open again.

Have a nice weekend all.