Tuesday, April 14, 2009

Crisis Over?

It seems like many want to declare the financial crisis over. I was listening to Larry Kudlow on the ride home last night and he was almost screaming buy as loud as Cramer does. Technically, I am looking for maybe a little more upside here, but crisis over? C'mon Mr. Kudlow, do you really think we are in for a V shaped recovery. Yes the Wells Fargo news was good and yes Goldman had some positive things to say---well maybe some not as negative as expected things. The bottom line is that this is a technical rally and none of the fundamentals have changed that drastically. I think most of us are more positive on the financial situation, but not to the point of calling the "all clear" when it comes to this crisis.

It will be interesting to see the intel numbers tonight after the bell. Many have been saying that the Financials had to lead us out of this downturn and others are saying that tech could possibly lead us. Regardless of your theory there, it would be great to know that we had some demand for Intel's products.

Copper prices are hanging in there nicely==about to make 6 month highs and my Freeport FCX continues to look strong. Of course, I am looking at copper when I make inflation calls---believe me there is nothing that I would be more happy to be wrong about than inflation. We seem to be getting a price break in Oil and that will help the overall economy---the longer it can stay low. I just see that with things picking up---we are going to get some demand shock which will drive prices higher.

I am still long AMN and DMND. AMN hit my target price and I got greedy---I'll never do that again--HA.

Don't get burned by earnings announcements. Know who is reporting or you could wake up and have your feelings hurt.

blog comments powered by Disqus