As you know, I expect some sort of resolution to the Greek issue because the ECB cannot let that fail. We will or should get some relief rally, but I think the bond market will immediately attack Italy, Spain, Portugal, and Ireland again, and we'll reface this same scenario and it will really hurt the prospects in the market till late summer or early September when we have some sort of new stimulus.
By the way, the short on RIMM that I've held on and off for a very long time (since mention on April 5th) has worked nicely. I'm out of that trade now. http://goatmug.blogspot.com/2011/04/apple-resting-or-shift-in-play.html
XLE (ENERGY)
Stop $71.45
EWZ - BRAZIL
($71.45 - Sell)
ECH - CHILE
$73.62 - SELL
EWC - CANADA
$30.25
EWM - $14.12
XLI - INDUSTRIALS
$35.75
VLO
$24
UGA - GASOLINE
$48
DBC - COMMODITIES
$28.40
BX - BLACKSTONE
$16
DEFENSIVE THEMES - NOT SELLING HERE
XLU - UTILITIES
$30.75
$17.50
XLV - HEALTH CARE
$31.66
XLP - CONSUMER STAPLES
$28.80
That's it, no more commentary than that. Be careful and blow out of positions that could crush you. Chances are we get a relief rally this weekend, but it will be short lived and that will be the chance to unload positions that you don't want to have for a long time at lower prices.
Please check out the blog at http://www.goatmug.blogspot.com/ I'm got some good things cooking for the weekend.
Goatmug is an investor that cares about you and your family. Goatmug's Blog - Financial Perspectives From The Mountain Top is a collection of thoughts on our economy and how it impacts the lives of investors and average people. While several specific investments are named in many of his posts, these articles are simply invitations for you to do your own research and reference to these securities does not constitute financial advice. Your situation is complex and unique and you should seek professional assistance with your trading and investing. Please visit Goatmug and share your comments at www.goatmug.blogspot.com.