Tell you something you don’t know right!.Very few ideas are working in this pessimist market.Remember that contestants cannot be as nimble as pro traders since the contest requires you to hold positions overnight.On the other hand many contest leaders have been whipsawed and seen large gains wiped out by wrong decisions[or right trades that turned wrong overnight and caused huge losses before they could be exited].This means even late entrants that are right have a chance to win.So there is hope.But what to do? 1]look for special situations; like earnings reports.A short in RIMM would have payed off hansomlyafter they disapointed.Go with what we know=pessimisim.Therefore why not short stocks that are due to report earnings.in this market it never seems to be good enough.2]Develop a opinion about the price of oil ,gold and the market in general.Use the etfs such as the dog ,dug, gld to make a bet.The volatility is such that being right will produce large gains .If you think oil has topped go long the airline stocks.AMR will pop 30%ON A BREAK IN OIL PRICE BELOW 130.The small cap E&P stock have got to be stretched in price .They will drop like stones as well in the event of a break in oil price[ like BDCO ].Gm is on its way to penny stock status…or is it? will Kerkorian or some other raider take a run at the Grand Dame of American carmakers? .Gm went from 30-12 in less than a year.It went from 20 -12 in less than 2 months..A very interesting speculation.If you think oil will keep going up it is probably a short.If oil breaks below 130 Gm could “rocket”up to 18 in a Detroit minute. But what will oil do?.Don’t know…… but I will throw this out….This is the 4 of July week end.All the Media will have stories on the effect of high gas prices on holiday activities.Many times in years past the entry into the summer season has been a short term peak in oil prices .Buy on the rumor-sell on the news…Is this the”NEWS” that the oil traders will use to head for the doors ?Watch what happens if/after oil gets above 140.If it cant stay above 140..the party may be over for a while ,and the oil trades mentioned above could be winners! 2008-07-11

Tags: hey did you hear ?..the market sucks! NBC Contest

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