the Yuppie Pig

I sold POT for a quick 3 points in the morning as the market handed my 3 quick points. I thought it rude, not to accept its gift.

The 60 minute chart looks ready to start a counter trend rally. The MACD sitting at a heavily oversold -15 is just about ready to roll over and move up, and the futures tonight suggest it do so will tomorrow morning. First target would be 735ish, 750 and 775 which would be a 10% run from the current level.


Even the lowly Commercial REITs look bullish, but based on fundamentals, I just don't want to go long this sector. I'd rather buy some WFC if I want high beta.


A couple names that interest me for a bounce is MON and POT. Both look interesting to me despite selling POT early today.




And here's WFC. If we get a rally here, this could be a good short squeeze. I'm actually considering some calls on WFC as I believe the event risk of a bank is too much for me to handle.


China has pulled back nicely, so it's back on the list of potential long positions with a stop at 23.5.