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The Best Short-Selling Opportunity of the Year
Traders were ducking champagne corks on Wall Street yesterday. The S&P 500 closed in the green for the first time this year. Stocks have erased the 26% loss suffered during the first 10 weeks of 2009 and are now up 0.6%.
Yippee. Let the celebration begin.
Sadly, I left the party a couple weeks ago, when the S&P crossed over 855. Worse yet, I started slowly building short positions. So while everybody else was letting the good times roll, I was feeling a bit like a nun strolling through a brothel.
It is difficult to be cautious as stock prices race…
5May2009 | Stansberry and Associates | 0 comments | ContinuedThree Reasons the World’s Best Investors Are Wrong
The market is rallying. The S&P 500 is now up 114 points in the last 17 trading sessions… for a total rise of 16%. Astonishing.
And the price strength of the move has all the marks of a massive new trend.
It’s true the market has fallen 50% in the past 18 months and valuations are now in "cheap" territory for the first time in years. It’s also true sentiment reached an extreme level of panic in March. The AAII investor sentiment survey, for example, reached all-time bearish levels in the first week of March, just before the rally started. We…
6Apr2009 | Stansberry and Associates | 0 comments | ContinuedCan You Spare $4.6165 Trillion Dollars?
Apparently Your Government (And You) Can!
Thanksgiving is here and the government is in a giving mood, it seems.
The latest bailout / stimulus / call for help / "we have no idea what we’re doing" effort has been directed at Citibank, with the federal government prepared to provide more than $7.7 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup debt even as the Treasury injects $20 billion into the bank.
This $7.7 trillion is equal to half the national GDP, to put things into perspective. It includes $3.2 trillion already tapped by financial institutions in the biggest response…
27Nov2008 | Oxbury Research | 1 comment | Continued
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