Tech remains sluggish here, but who needs sexy when there is money on the floor.Retails, Homebuilders and REITS (settle down now) are still cruising higher. Almost everyone has recognized this now, but all I have heard so far is "take your profits if you've got them," "buy these on a pullback," yada etc. yada...
Volatility abounds, yet the market is churning every which way while standing more or less still lately, so trading in and out of positions makes sense right now. However, when I sell an ugly retailer (I do mean ugly, yes), it's not been super convenient getting it back at a lower price.
These are beasts. No better way to describe them.
The Solar group started to wake up today and I got off-track some, trading long into JASO. This idea may work in the end, but I don't have any time. I'm not willing to be long Solar by the time the Fed's FOMC statement is inked tomorrow. Hurry up or shut up - or someone else makes the money there without me.
In retrospect, I should have stayed away and traded this group only after verification of life post-FOMC.
At least I've been hanging out at bars more Dress Barn and Chico's. Fighting more Googly battles looks ugly from this side of the tracks. Christ, I bot a homebuilder (NVR) going into earnings today.
Sick
You need to know your enemy right now- the hideous groups are way out-performing sexy RIMM-jobs and AAPL-jacks. This may or may not change after the cut is announced tomorrow, but Ugly is in right now.
I'm only buying glossy if it has HOTT black glitter inside the package.
Long Holdings at moment (ranked by size): NVR, CLP, JASO, SBUX, DBRN, IRIS, CAF
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