Tuesday, December 01, 2009

And the beat goes on...

First off, thanks everyone for attending tonights class! A smashing success indeed and I hope you all got a lot out of the class. Looking forward to more goodies soon, including the fabulous January Effect Class soon!

In the meantime, the market keeps treking along and singing it's song, walking in this almost Winter Wonderland.

It almost feels like the other thing that will derail this beast is some insanely horrible (G-d forbid) thing. We just shake off everything and anything.

This is the mother of all carry trades.

One thing of note, and it may be meaningless, but one of the Fed dude's said today that he thinks they should raise rates early 2010. If that ever got legs THAT would end this hell's bells rally and smash us. The air would come out of these tires faster then you can say RATE HIKE.

I'm almost ready to get long the beast of all stocks, the BRK.B. I'm hoping that we get some sorta rinse and I can grab it around $3200. I'm sticking some away for that 50 for 1 split at that point. If I knew when it was definately gonna happen I would take a position, or not, based on that split date. Notice how BRK.B has not participated at all in this recent bounce/rally. Ominus, or are they just head faking people into thinking the banks are toppy?

The one really healthy thing about this market is that they keep moving from sector to sector. I discussed that tonight in the class, it's pretty cool if you watch them go from one to the other. The AGs look like they could really REALLY bust a move. But, again, that'll depend on the dollar's direction. If the dollar continues to plunge then watch $125 and then potentially $150 for POT. Having said that, we really are in nosebleed area and taking swings here for more then stabs seems a tad pricey to me. Hey, we should either ramp and see 1200 or fail and fall back to 1000 or below into year end. It's possible we just tread water, but seems unlikely.

Watch 1120 to 1125 are the next really key resistence levels here.

AAPL tanking hard into the close, again = ominus sign, or just someone dumping and tomorrow it reramps? If you look at it, GS, and some others its kinda scary, the typical leaders are not performing all that wonderfully.

OK, it's late and I have to hit the hay. Nite all, and remember - RULE!


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