Courtesy of RobotTrader at ZeroHedge
Here’s my favorite for today.
This must be on the Investor’s Business Daily Top 100 list. A classic example of a stock which is both over owned and over shorted at the same time.
Check it out:
Here’s one that has held the 50-day non-stop since March. Therefore, many were pre-conditioned to "buy the dip" each and every time.
Until today…LOL
And why are stocks the most favored investment right now? Because if you are an institutional investor and sense the slightest whiff of a possible trend change, you can sell instantly with a mouse click. Try that with mezzanine debt, private equity, or a fractional interest in a real estate partnership.
So when orange juice, natural gas, and crude futures took some hits today, the skittish "portfolio managers" at TIAA-CREF, CalPERs, Harvard Endowment, etc. instantly hit the sell button on many commodity plays. Why take any chances??
And while these mo-mo stocks are getting shanked, seems like every day there is some company on the verge of bankruptcy which is up 20%+
Or, for more aggressive 5-minute HeatMappers, there are always the low cap garbage stocks getting run…
So anyway, we continue to watch and wait for a "breakout then fakeout" reversal or continuation of some upside.
A quiet day, overall.
But the transports made new highs today, thanks to FDX and UPS:
And some more dogs are beginning to bark.
Note how the underperforming crude tanker stocks are starting to wake up….
While the rest of you guys have been freezing in cold weather, in Los Angeles we have been having 78 degree temps almost every day.
