Sometimes, the markets make sense.
Financial stocks had been engaged in a giant sucker rally. i shorted the financials a little early last week but and being heavily rewarded today in SKF. I am just sitting tight.
I twittered last night that China feels like a giant short…finally. I have been really patient and watching. Boca urged me to go with my gut and I did/am.
I started this morning but very small t $90 on FXP. This could stay on my books for a while.
I am not bearish, just trying to make some money off what I think is a good risk reward trade. My last short – Akamai – turned out nicely.
I have oodles of freinds in China and they all report the same thing…exciting but , but, but, but—-all the buts have to do with cheating, ways of doing business, pollution, empty buildings, cab drivers listening to stock reports, …….Most important to me is the broken trend.
Of course, if we take out all-time highs, consider me bullish.