Monday, March 28, 2005

3/28/2005 Market Thoughts

Market short term oversold here. Oil has been trading off to about 54.4. Lots of stories are coming out about Real Estate bubble especially with interest rates up. I think with so many 5yr ARMs out there that when interest rates come up in a few years might cause some trouble in the housing market. GM is in a lot of trouble; I think Toyota is the name in the car space if you want it, short GM and F to death.

  • Short term buy SPY 117.44 I think its oversold (Last short call: bank + .839%)
  • Continue S15HOME index short (BofA just upgraded TOL I think its totally wrong)
  • Continue OIL Short until closer to $51 level (From last short call + 1.75%)
  • Look for short term rally in GM if we get it short (Anything above 30)

Thursday, March 17, 2005

3/17/2005 My Market View

Market off last 2 days 1220 to 1188. VIX popped and SPX closed below key figure of 1195. Oil this AM record highs over $57/bbl. Dollar is very weak again especially off record current account deficit.

  • Short S15HOME index (SP Supercomposite Housing) = 811.34 ->Long term: Housing Bubble
  • Short SPY = 119.12 -> Too much bad econ news: short for foreseeable future
  • Short OIL = 57.0 ->Record highs must come off OPEC increase: Short Term Play.