Hmmm maybe!!! As most of you know, I think somewhere here we will get a bounce going into earnings season. Earnings season usually have a bullish bias and as traders we should play it out inside the bigger picture. It is also very important to remember nothing goes in a straight line and thus a tradeable bounce here during earnings season would be great to reset some of the wonderful shorts we have riden down.
I have a few stocks up my sleeve when we do get confirmation of a bounce, I will send out trade calls on but one I really really love is ENER. Not a trade call here for tomorrow but keep on eye on it as I really love it. Currently trading @ $64.00 I can see this one going to $85 in a rush but I will send an email when I believe it is right to enter.
Keep on eye on the investment banks here for a bounce also. YES! they have been crushed and you all know my feelings about these stocks but I do believe they will get a sympathy bounce during earnings season especially LEH and GS. I am surely not betting the farm on longs here as we are looking very ugly here technically and at or close to the March lows on the indices.
Sunday, July 6, 2008
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