Wednesday, September 20, 2006

Lucky those who opened and closed...

As vague as it sounds...
Today WAS a good day to cash in on your long positions ( many of long positions least to say)
and
initiate short positions.
And why am I saying that? Look at DIA trust, so little conviction on the upside last few days, it looks like a person who is walking marathon race and he is second in that race and all the glory will go to the first one at the finish line, but the second best still needs/wants to finish... all of the indexes looks very exhorted, volume today was so very unconvincing on the upside that it makes me think that retail investors are going to pay the full price for this move.
Houston, we are going down...tomorrow...
There would still be a bright spots for longs All American Investors/Traders who do not short ( I don't mind - I'll take it). One of such bright spots tomorrow will be SLXA, pick of BullTrapper of Trade Guild investment blog which he found, nurtured for a while and now ( as lame as it seems) I say - SLXA - it IS time to go up!

Sectors... biotech , broadband might continue to go up ( as my Granny would say: "On another hand they might go down")
And pharma ... seems to be loosing steam. But still a runner. So is healthcare.
And it looks like our old looser friend - NANOTECH - is coming BACK! ( don't get too excited)
Commodities... oh my... my timing is always bad on this material - I think it willy-willy oversold and due to a bounce, if it will not go up tillthe end of this week - we will see a LOT of downside.
Gold ( of course it IS commodity) - is sitting on support and might bounce, especially if market will start correction tomorrow.
Oil - capitulated today? Reverse to the upside is in the store?
Oil holders - don't go there unless you are already heavily shorted most of 'em


I might post some lists later tonight, but more like not, all bets I believe had to be set by today.

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