Wednesday, August 24, 2011

Ten Things

OK, so we had this tremendously up day yesterday and some of Cramer's "Ten Things" started to turn around.  This raises the age-old problem.  Since they all have not turned, is this an opportunity to sell????

Review of Ten Things

1. leaders coming back from vacation; ????
2. banks stopping going down; yes except for BAC, which is Blodget's and everybody else's short sale as a proxy for european banks which cannot be shorted anymore.
3. tech's seasonal slump has to end.  On examination of this one it appears the calendar is the only determinant, as this happens in the last week of September.
must be more mergers and acquisitions;
4.   must be more mergers and acquisitions; not that I heard about yesterday, but I was laser-tagging with Owen and his friends yesterday.
5. must be lower stock and gold prices; yes as to the latter only.  So Cramer is saying "Sell this rally."
6. Europe must step up its game; certainly rumblings out of German principals on this one.
7. Brent crude must go below 100;  no help yesterday.
8. China must stop raising rates;  don't know.  How find out?
9. Europe says we'll stick with a VERSION of the euro, not the euro; stay tuned, not yet.
10. must be some stock leadership.  where was the leadership yesterday?  techs and most banks probably.