SERIOUS MONEY

If only people listened. The housing stocks are up again 3 days in a row.
Cannot believe it. KBH from 25.7 to 29.30 in 3 days- am sure glad I bought some. Pitched it as my long term play but my target of 30 is almost met. Selling some for a re-entry if housing tanks again makes sense. And the rest can steadily go up with the momentum. When a sector truly bottoms, no one tells you (cept me of course). Am getting good at it I hope.

The market is flirting with 14000- and will do it I think until friday when the employment numbers come out. Regardless of the numbers, good or bad, I think there will be a bit of a pullback. Lets see.

GRMN I was right- a pullback was not a good buy at 105. Its 98... and I am throwing this one out of my radar. Risk is too high with market sentiment being fearful on this one. We were lucky to get out at 120. Am glad greed is not part of my trading equation.

Am watching the financials- recovering slowly. A pullback on more talk of subprime messes... will be a good entry point. Of the financials, I am watching LEH forming a trading range = 60 to 65. Hmmmmmm.

All in all, we raised some more cash. Waiting for the pullback- to buy for the year end rally. Also waiting for signs of a slowdown in the earnings releases that start next week- and lowering of estimates. If that does not make the market pull back... enjoy the ride until its time to short. A short term short I am being bold by adding XOM to my list. At 92 its safe to short... as oil prices may also come down from highs if the slowdown does materialize.

Good going... for now. Hope it continues. More tomorrow. Stay tuned.