Saturday, November 22, 2008

Top Five Twitter Tickers

General Motors is about as relevant as horse drawn carriages.
AdSense sucks, and so does Google's future revenue.
I'll keep the Gold, you take the Man Sachs.
Citi is not only asleep, it is comatose, and probably dead.
Leveraged destruction of the finance sector remains the best trade of the year.
Equities suck, and though we may be oversold, the long term picture grows increasingly grim.

Weekend Review

Not much has changed, even with Friday's +6% close.
Even fewer stocks breaking to new highs.
Optimistically, a couple stocks are climbing above the 50dma.
Gold showed good strength, and GDX was up 26%.
But gold is approaching resistance, so stay cautious.

The market is still terribly weak. Gold miners may offer some upside potential, but I suspect it is a better shorting opportunity until the broader market can find some traction. Treasuries are getting ridiculous, but it is too early to get short the long end of the curve. Keep an eye on TBT.