Monday, November 12, 2007


This is starting to look, feel and smell like a bear market. The financials have been in a bear market for quite some time and today ETFC is being axed. Nevertheless , I am going long E-Trade as I believe the selling is overdone and things are no where near as bad as some people would make you believe. If things were really as bad you would see the insiders dumping and that is not the case.

I sold 60% of my HANS today above $48 with hopes of buying lower $40-$44. Added more SLV under $146 and a little GLD at $79ish. I cut back on some other positions as I approach 30% cash with hopes of deploying it once a clearer trend become apparent though it seems that trend will be to the downside after a bounce. If we can't rally in November we are in a bear market.

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