Tuesday, July 29, 2008
Very neutral market... my view on energy
Looks like a very neutral market...big down day yesterday, big rally underway today. Personally I think the pullback in the energy and commodity sectors is a great opportunity to buy. Financials and Homebuilders still have a long road to recovery AND the dollar will continue its decline. Long term, you should be buying energy and commodity issues. Short term its anyone's guess as to what the market is doing. Watch DIG, I like it in the high $70s if we can get it. UNG is reversing today...it might be setting up for a nice swing long position. I have LVS puts going into earnings tomorrow. If the stock stays strong through tomorrow ahead of the call tomorrow night, I will need to buy some stock as a hedge
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The sweet spot.
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