Fed this morning did the right thing by liquefying the mortgage market...which has been the "root cause of stock market meltdown"
US$ is moving higher against the Euro.....
ECB,Japan & Canada are pumping billions into mortgage pool this AM.....
Fed has created a "worldwide liquefying of mortgage money"
Futures are flying in all indices.......
Fed timing was perfect as most technicians were primed for a major drop this AM......they were all carrying a very heavy short positions......
Can we say short squeeze which we have never seen in a long time .......
I bet we CAN.......
It always pay to reposition near the bottom...
If you are in the game ....then you benefit from it..sooner or later !!!!!
So...it IS "turnaround Tuesday"......
Good luck for whole week......as it sounds like a real deal by fed to resolve the mortgage liquidity crisis !!!!!!
BB for governor of New York !!!!
Saleem
9 comments:
Hi Saleem. I did not cover DXD, I use it as a hedge now. I have much more exposure to the long side. I will unload after this euphoria is over. I expect at least some retracement the next few days. If not, that's great as my long side will benefit. Madmax- LDK is the only stock on my watch list which is red.
Saleem,
Just wondering what sector (s) you think would be best to watch? I have some cash to put to work and I am not sure where to put it. My gut says Oil or Ag. but I do have COIN right now, so Im balking at AGU... I am looking at UPL on the IH watch list. If you have any other ideas, I would like to hear. Thanks.
Hi Doug,
Go with UPL.....
Saleem
Hi Minaccess,
Good luck on your long positions.
Saleem
LDK addressing STC concern and also they have an updated photos of the plant.. check it out:
LDK's has a vested interest to build and operate a safe and environmentally friendly polysilicon plant. We are implementing the latest proven technology from the west. We will utilize an vent recovery system that will recycle and convert silicon tetrachloride (STC) back to TCS for consumption.We are building a state-of the-art polysilicon plant. Once completed our plant will have a totally closed loop system where the majority of the potential waste (STC) will be recycled.
Photos of the plant:
http://www.ldksolar.com/progress%20pic.html
Hi Troy,
LDK is trying very hard to do the right thing......
I think the market knows about upcoming convertible to finance construction,equipment & other needs.....
It will take a week after convert announcement that LDK will be OK...
Look @ STP today ..it is @ $29...thanks to convert & rising cost..
Saleem
I am watching LDK, Saleem
What is your recommendation sell or hold
I do believe in LDK but it may turn into a huge LT hold
Ideas any one
M
Hi Madmax,
Since you hold stocks longer...it is hard to guide you on LDK....
LDK downside is... maybe $2....upside $5.....
LDK is oversold so a bounce is overdue...
Hope it helps.
Saleem
DOUG
ULTRA Petroleum is a good one IBD says:
IBD SmartSelect® Corporate Ratings
Ultra Petroleum Corp (UPL) Ratings as of 3/11/2008
Earnings Per Share (EPS) Rating Relative Price Strength (RS) Rating Industry Group Relative Strength (Grp RS) Rating Sales + Profit Margins + ROE (SMR) Rating Accumulation/ Distribution (Acc/Dis) Rating
55 96 A+ B B
It is no longer best of Breed:
Top 5 Companies in the Oil&Gas-U S Expl&Prod Group Stocks Above $10 - Sorted By Best Overall Rating
Contango Oil & Gas Co MCF
Continental Res Inc CLR
Range Resources Corp RRC
Atlas America Inc ATLS
Carrizo Oil & Gas Inc CRZO
I like the natural Gas play: CHK
just my 02 cents
M
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