I am down on Bay Street in Toronto and screw it, I am the only guy here. Heading out golfing with friends.
I am not alone. This market is at the mercy of the bears until labor Day. They are entitled to their fun now and again.
Here is what the market looks like – according to FLY:
Here We Go Again
Oil stocks are being murdered, despite robust per barrel prices. This tells me, someone wants to raise cash–in a very big way.
Don’t forget, the finanacials are the bread and butter of many funds, representing the largest asset class in the S & P. It makes sense, if you are getting poleaxed in GS, BSC or LEH, to raise cash, via selling VLO, XOM or TSO.
So, with that being said, it appears the market is up for a little capitulation action.
In other words, get ready to take a few stabs to the scrotum.
Howard,
Any good trade ideas on the Fox Business channel coming online? I’m in the camp that thinks a little right wing spin on things, ie jobs,GDP, etc.. might get us a nice little run going. Thoughts?
Pedro
Howard,
Wallstrip and Lindzon follower
Good to you are hear in Toronto. I tell all try seafood at Starfish(no ties) on Adelaide.
Simply contact the blade of grass beneath the ball and nothing more… Zen Golf Saying
Jake
416.991.3818