The negativity is palpable and combined with the nasty recent selloff, the universal hate for the stock market (including me) and the pretty resilient behavior of the indexes, I spent some time this afternoon looking for cheap call and risk plays to play a big move up.
It is just a hunch, but I covered my shipping shorts intra-day and oil shorts and locked in some big profits and went long oil stocks and some war stocks. For example, LMT (Lockhhed Martin hit a new high today).
Porn , Pawn, drugs (the good addictive kind :) ) and weapons. When the going gets tough, think death and addiction
Disclosure – Long SNY (Ambien), Oil stocks and weapons of all kinds.
PS – I am in a good mood because my sweet daughter returns home from camp tomorrow and I don’t mean to mock the tragic events in Iraq and the Middle East. I know I am lucky and blessed and am only trying to get some cheap giggles. Please take my stupid words in the right context. Cheers.