Thursday, April 2, 2009
This AM caught me by surprise... SPY is bouncing off of its 50 ma.
While this is of course bullish, it would have been healthier for the markets if the pullback was deeper.
Anyway, I am enjoying it... I have several small positions with huge short interest... eg: TSL, CAB, MTN, and others. I buy them on dips and sell on the rips like today... Its a brainless way to pick up a few percentage points.
I was listening to Rush Limbaugh a few days ago and made some $$$ from his wisdom...
Since Obummer is the new CEO of GM and Chrysler (facism), he has the authority to take over the job of directing business. Since Obummer does not like trucks and SUV's (the only profitable products) the car manufacturers will be directed to build smaller, more fuel efficient vehicles. Americans only buys these when gasoline is terribly expensive. Since he is also the CEO of the oil industry, all he has to do is raise the cost of a tank of gas to make his little cars sell.
To that end, he has already begun making millions of acres of drillable oilfields off limits.
It's another no-brainer trade, I bought UGA, the gasoline ETF. It popped up 6% this AM!
I think I'll hold for a while longer.
Posted by congamike at 6:38 AM