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Tricky market, shorted RTH on the pop higher

(Exited  trade because the rate cut will has a positive effect on earnings with the Refy business coming back.  HD and LOW look best in the group. Updated 1/23/08 3 pm )   Retailers trading up today.  Not sure why in this bear market; so I took the oppotunity to short the RTH index.  Not sure about the market direction from here.  I would guess we continue lower.  I am still in my short on CRM.  I exited the XL trade because the stock was already sold off, and buyers started to come in as they did with MBI scaring me out.  XL hit a low around 36 this morning.  May well have been a bottom as the Fed cutting rates should allow business’s and homeowners to find some ways to save money refinancing.  I wish I would have tooken the plunge long into YGE on the open around 21-22

entertainment purposes only

January 22, 2008 - Posted by | Uncategorized | , , , , , , , , , , , , , ,

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