So it turns out November is the bad month for stocks. It really has nothing to do with the calendar. It’s bullshit financial stocks that have been endlessly rolled up in a perfect interest rate scenario that still managed to blow trhemselves up with greed and bullshit accounting. Than there is the continued bludgeoning of the dollar’s, which is fun to watch being long Gold and Canada, but it’s inability to rally is creating full fledged panic. It could actually trigger a massive sell-off here. Few win on this scenario.

It’s a little chilly in New York, but it’s a beautiful day to be walking the streets. Too bad I have been couped up in meetings.

I bought some Garmin under $90. It looks like Bam Bam (Tom Tom really) has increased their bid for Tele-Atlas. If Garmin keeps upping the number, the stock will fall further, but I have sold stock so much higher and love GPS stocks, so will take a small piece back in.

I also bought some CYNO (Cynosure). It’s down 20 percent from all-tuime highs but growing like a weed. I am long tattoo removal and other bullshit laser surgeries.

Other than that, the whoopass on financials continue. BX and Goldman are far from my kill zones and American Express is appealing to me 20 percent lower so I watch. Other than that, it’s skeleton in the closet time. Today, Capital One is the punished. I hate those weasels so I could care less. Mastercard is a monster so if you are playing the short game, they could play catch-up. Not for me.

The market can’t move strongly higher without them. Period. You should just do less.

I am sure the Apple store is packed though :) .

Disclosure – Long AAPL, Gold stocks, GRMN< CYNO and Canada

One comment

  1. Paul says:

    Besides Gold and Canada, what are the good “weak dollar” plays? Maybe exporters who are not also large commodity consumers (since material costs will go up with the dollar’s fall)?

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