Top of the Curve

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)

posted by BKo @ 5:52 AM