I feel almost evil being so Bearish against the markets still. However, I shorted Radio Shack and Volt yesterday despite mediocre signals. I even saw that today might be an up-day, although I didn't expect this much! Now, my shorts are hurting, but I'm still optimistic that they'll drop back into the money next week. My one Long spot, Alliance Imaging, helped ease the pain, and I might jump back into that short spot against Forest Labs. Now, what have I learned from all this? I saw the up-day coming, I should have covered my shorts FIRST. Ok, ok, next time, promise!
I'm expecting tomorrow should be a good day to short Mattel. I was also expecting to see a rebound from 3M, but they are really starting to scare me. I've also given up on United HealthCare until they find a direction and stick with it.
Today's gains relieved the excessive selling from the past few days, but I see that I'm definitely not the first person to say that this evening. The long term sentiment still expects things to go down, so this bounce might be done by next week. We'll see!
Anyone know where oil is really going? I just heard a rumor today that oil distribution companies are expecting lower prices soon, while the talking heads say to look for $100 a barrel before the New Year. I know, I know, don't listen to the talking heads, but I gotta have SOME noise in the background.