Remember when global reinflation was all the rage? Way back... yesterday? No thesis lasts long in this market - Excel Maritime (EXM) is getting spanked today - I had already sold out almost the entire position so I did not catch yesterday's "reinflation" spike to $5+ but I am beginning to rebuild this in the $3.80s. $3.50 seems like a pretty good floor here...
Only about 0.8% allocations into each ... no real rush. They are very volailte and if they pop 10% Monday I'll probably exit right back out in this casino of nonsense we now live in.As for the market overall, pathetically with all the juice thrown at it by central bank and government we are already breaking back down. Until we break through S&P 741 I will give the bulls the benefit of the doubt and say we remain in a wide trading range of 741 to 780 and then 780 to 804. The latter range broke today, as we tried to hold 780 all morning but finally bulls were over run. If/when SP 741 breaks we'll become aggressive bears but until then we'll play the swings.
This market is extremely tiring.Long Lennar, Excel Maritime in fund; long Excel Maritime in personal account
2 comments:
Yes it is tiring indeed.
Why EXM over DRYS, because in the last 5 days EXM is more oversold? Seems right to me.
I exited DRYS at $5.19 and may get back into EXM, but last time I did not fare as well. So it goes. Sold out of SRS today at the close which was lovely, something to offset Heeb's fund performance, he's still off his game.
Won't the market blast off Monday on news treasury is finally acting to disperse/purge the bad assets? This should throw some serious wrinkles into the charts early next week.
This weekend, the media is going to run with this story.
Run N Gun?
That's Tark the Shark talk.
NC my pick, a big ACC guy and HS bb referee. Maryland is my sleeper.
You must be a Michigan fan.
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