Follow Up

You may recall a few posts ago when I said that GE might carry the markets on its back into the close. It looks like I was right, only a day late. The last 30 min of trading today was very very bullish. The markets were starting to get very oversold. Pretty easy to do when you have 4 straight down weeks. GE rallied 6 percent in the last hour and dragged the rest of the market up with it. I think the first part of next week we could see some good days trading to the upside. I picked up some BGU at the close (leveraged Drexion Large Cap Bull ETF) to hedge against short positions I have (and am still confident owning) in Visa and now Walmart. Oil is starting to show some real strength. I may buy in on the next dip and start selling covered calls on it.

On a side note I am thinking about making some T-Shirts that say "Obama, A Short Seller's Dream Come True". What does everybody think?
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