I apologize again for the lack of posts. Most of my trading over the last few days has been comprised of countless minute by minute long/short scalps. BIDU and FSLR earnings definitely provided some excitement. When the market clearly has no trend, this is the only way to trade.
Overall, still quite bearish on the market in the near term. Just can't think of any catalysts to truly buy even for a short upswing. Warren Buffett offered to take over municipal bond portions of the monoline insurers portfolios. Well gee, if he were to take that, what would they be left with? Municipal bond insurance is the best paper they've got. The market rallied off the news, but lets get real here. The monolines are toast without a serious bailout of the bad mortgage paper.
A lot of people have been asking about investing in the "cheap" financials - all I can say is, avoid avoid avoid. When investing - there isn't any reason to join a crowd of unhappy people (most likely you'll get into a scuffle). Wait for an absolute meltdown before getting interested in these names. There seems to be no end to the bad news. Lets wait for something big to happen before getting in - for example a large US bank going bankrupt - causing a market meltdown.
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