Wall Street Manna

An irreverent look at Wall Street

Monday, June 14, 2010

Where's the "Oh My!!!" crowd today???

Oh My!!! The market bottom of this correction is in, and now it's time to get back to play. We had so called worries about sovereign countries going to hell, a double dip, bad employment numbers, and every other Cassandra telling us the sky was falling, and the most they could muster was a 13.7% correction from top to bottom? Even with the fat finger selloff???

So look at the material or the steel names----you have bargains everywhere. You can pick up AKS here under 14, or FCX under 65.

All the stories that the bears bandied about where just stories. And all the bears that showed their face---well look for them to go back in hibernation!!!

And my California "hedger?" Did you really want to pay all that money for all that insurance you really didn't need???

And a picture for the "Oh My" crowd!


At June 14, 2010 at 9:12 AM , Anonymous Anonymous said...

Re Oh My! picture

Oh. My. Gawd.

Hot damn

At June 14, 2010 at 9:46 AM , Anonymous Anonymous said...

Enjoy it while it lasts....

At June 14, 2010 at 9:51 AM , Anonymous Anonymous said...

where is the oh my crowd? same place you were hiding when stocks corrected 15%. Oh my!

At June 14, 2010 at 10:16 AM , Blogger Palmoni said...

ha ha--that was true a bit

At June 14, 2010 at 10:22 AM , Blogger Palmoni said...

yeh but at least I was selling at 1194!!!

At June 14, 2010 at 11:34 AM , Anonymous Anonymous said...

so we go back to 1194?

At June 14, 2010 at 11:55 AM , Blogger Palmoni said...

there's some resistance at 1120--but I think anyone that wanted to sell--well they sold already--if it consolidates there, then the next 100 points up will let us retest 1220

At June 14, 2010 at 12:17 PM , Anonymous Anonymous said...

You think we hold our gains today?

At June 14, 2010 at 12:44 PM , Blogger Palmoni said...

I don't think we roll over today--little resistance at 1104ish where we backed off

but I think the option boys need things higher and after the last couple of weeks, everyone must have selling fatigue

market's up 90 and everyone seems bored with it already


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