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Deep Market Thoughts...Nothing New – We Need a Catalyst
Howard Lindzon
July 01, 2008
We have two catalysts right now that rule…Oil and Busted American Financial Brands. They will rule until something big happens – not a rate cut or tick up in home sales or GM sales.
It is and will continue to be about oil.
I was twittering today that I covered some shorts and Apple. I felt like putting them on at the end of the day again, but I did not.
Been way too easy.
Than I read The Fly tonight and kind of wished I had. In the end, I do lot’s more than just own stocks and I am enjoying the fact that I have not been annihalated. I am a terrible shortseller and have hit .900 the last few weeks. I am not that smart.
If we crash, that’s not a great odd’s play anyway.
Fly is saying the same stuff, just filthier :) .
The market needs a catalyst to jump. It needs Warren Buffett to step in and rip the throats out of the bears, via buying out (C: 17.13 +2.21%), or something like that.
However, we all know, that’s crack pipe dreams.
Instead, we get to enjoy the constant and persistent cornering of the oil markets, at the hands of ’sovereign wealth funds.’
Please, don’t tell me the 900 billion dollar Saudi Arabian ’sovereign wealth fund’ isn’t buying massive quantities of crude futures. The oil bubble will pop, when those fuckers endure an $80 down day in crude. You’ll know oil is going lower, when the cameras shift to the crude traders in Dubai, showing despair— and men with their turbans in hand.
Until then, oil is going higher and there is nothing you or your stupid friends can do about it.
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