When their is jitteriness in the markets for any reason.....pay attention to bond yield.
As I write this piece @911AM bond yield is showing an UPTICK again to 5.1490% which is up .0260.......how the market takes this UPTICK will determine today's trading.
In my opinion a minor uptick is already in the market and has been discounted yesterday.
As usual Fast Money crowd was panicking and claiming that the world is coming to an end with this sub-prime issue.Their featured guest Bill Finckelstein is an old time BEAR whose bear approach has caused him BURNT marks all over his body.
Fast Money should rename their program to "SCARED MONEY"...because they are always buying PUT in this strong tape......Eric Bolling has been short FXI which is @ an all time high...boy we really need advice from these SCARED TRADERS.
Pete Najarian has no understanding of day to day issues of wall street...he looks like a grown UP character of STEWART from famous commercial.
Whole world IGNORED wall street CHICKEN ACT and went to all time HIGHS....they can tell manipulation vs real issues.....wake UP SCARED MONEY...the world is LAUGHING all the way to the bank.
Looks like RIMM is headed higher.
SNDK is headed higher.
SNDA is looking higher.
My URANIUM superstar PDN.TO is looking higher in pre-market.
Only STP I am NEVER sure these days......did you notice that I DO NOT add to this UNDERPERFORMER...I noticed that everyday......sorry just a bad joke.
Hope you are positioned to take advantage of beaten down stocks....hey the worst that can happen is ..you can be wrong for a day only !!!
Good luck for the rest of the day.
Next post around 1230PM.
BLOG does not give buy or sell.
Saleem
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