There was some finger pointing though..
IBD this weekend also points some big fingers under Uncommon Knowledge title -
"Fannie and Freddie were created by Democrats, regulated by Democrats largely run by Democrats and protected by Democrats"
Anyway it was so much easier for the Presidential candidates to debate about Iraq, Iran and Pakistan then to offer any real solutions for what ails the good ole United States of America.
Of course part of the reason is that no one has a clue yet. My bet is they will throw money at the problem, inflation will raise values and other bubbles will be formed. (Alternative energy is my bet)
The goal is to still come up with something before the markets open on Monday. Lets see.
Again I have been recommending cash at this time, It is just to much of a gamble. (although I am still holding some short positions not confident that this is going to work out any time soon)
Suffice it to say whoever takes over the reins from dubya sure has their hands full.
Speaking of bubbles.
If you recall we were looking at shorting RIMM in July when the MACD divergence occurred. This is one stock we will be reviewing at the next Boot Camp. In the meantime spend some time thinking about this one knowing that there are more out there and we know how to find them…(and why day traders miss all the fun)
Stocks:
Here is a long candidate for Monday for those that want to play. A breakout above $60.
Some others:
Longs - SNE and UTX
Shorts - CEPH COCO GIS and WMT (Also ready now to short KFT after riding the 5th wave up)
ETF's
XLE - stopped out with profit. Still looking to go long again.
GSG - nice divergence waiting for daily fractal This is looking great and will rise with rescue..
GLD- quite after run up last week still looks like good long
SLV- quite after run up last week still looks like good long
USO- quite after run up last week still looks like good long
QQQQ- straddling can't wait for Monday
Peter
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