A couple of days ago I sensed the negative mood of traders could lead to a big move up. I am getting out now with some nice oil profits and will be looking at selected puts next week once again.

My blogroll made me do it!

Most important though for me is that Google seems to be conceding to the invalid ad clicks. While I think that the Company is doing the right thing, I think the stock could crater as a panic ensues – largely instigated by the media.
You can read about it here . Minic just reports and links and leaves out the hype.

There has been some fantastic money makers the last few weeks in the blogroll. On the short side, Trader Tim has slayed it and had some good commentary to boot. He is hot and I am not going against him. This is a good time to read and watch for strength in stocks and sectors so that when a rally takes hold, you identify it early and get involved with the leaders.

I have watched some serious blow-ups amongst the “Cramer” momentum stocks. I just don’t know how he gets up in the morning in markets like this. His viewers are being TORCHED with losses.

The tape does not lie though and despite the Dow and S&P holding up relatively well, the underlying weakness spells big trouble is more likely than big gains from this standpoint.

I am holding some of my SNY – ambien, oil stocks, gold stocks and selected leaders but took a bunch more profits and sold some Apple as well that I had picked up in the 50’s last week.

The Retail index is in trouble and today Costco was hammered. I am in Toronto and although canadians are much more frugal, I sense that the consumer is getting worried. Real worried. Fedex and UPS are a leading tell for the troubles coming for retailer stocks. I am looking through the retailers for potential put plays – Suggestions always appreciated :) .

The big traffic these days is midnight gas runs where stations lower their prices and people are flocking. CRAZY.

Powder dry until I see a big easy trade. It will show itself.