Friday, June 09, 2006
Another Point of View: REV SHARK
Basically, Rev Shark is on fire these days, while Cramer leads the masses to the guillotine.
So, here is what the Rev has to say about today's action:
So, here is what the Rev has to say about today's action:
The mildly positive action is starting to slip. Breadth is falling and the semiconductors are rolling over. I've been rebuilding a few short positions, cutting back some long-side plays and staying defensive.
As I've been saying, we just can't trust the market at this juncture. One positive day is not enough to turn the tide. We have to stay short term and keep micromanaging positions until we have a more dependable market.
I added to a few shorts such as Equinix (EQIX:Nasdaq), Gaiam (GAIA:Nasdaq), Navteq (NVT:NSYE), and a few others, but am mostly thinking about lunch.
