Deep Market Thoughts…Pissed or Panic

Posted by Howard
on June 6th, 2008

We are not close to panic, save the oil shorts. I was twittering that my best trade of the day was covering USO (oil ETF).

Yesterday stocks looked strong with Apple up $5 and Amazon up $3 and today they gave it right back. It feels like chop and laziness, not panic.

Fedex, Citibank and Fannie Mae are still above their lows that I have been watching. BUT, they are pretty freaking close.

Fly is calling it a panic in his always reserved fashion .

Our policy sucks balls right from the top and until we get a change in our spending and weak dollar policies, resource and basic materials could keep spiking.

Judging from the serious hatemail from my Yahoo Tech Ticker videos on oil and stocks, people are just pissed. One thing about Yahoo, they do have the traffic.

Thanks Aaron and Henry for having me on TechTicker today – 4 videos in total.

Thank goodness I own Citibank – CNBC’s buy of a lifetime. Make’s the weekend so comfy knowing I will be rich…NOT!

Disclosure- No positions

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