Thursday, November 20, 2008

Local Bottom?

Action today was almost capitulation. Almost. Still, lots of dancing bulls around. Come on guys, you should be leveraged long already! If not, you are liars, if yes, you are stupid.

I'm thinking of buying something tomorrow for a trade.

I don't believe it's a real bottom. We have a long and rough road ahead. More about it later. In short, we need to wash out most of the bulls.

Bought more Altria (MO) today. I can't believe it can be this cheap.

Full disclosure: at the time of publication author had a long position in MO. Positions can change any time.

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