Thursday, March 13, 2008
Buying the Intraday GE Green Rally?
We suspect that Jeffrey Immelt's/GE's morning Conference led to an intra day false rally and we’re not buying it. Please don’t be fooled by the "green" future Jeff addressed in terms of your short term trading strategy today. We strongly advise selling into strength and rallies, as there will be "Munch" better entry points for longs over the next several "weaks." Investment Banks (IBs) will be reporting earnings and outlooks soon, perhaps the most significant being Goldman Sachs before the market on March 18th. We recommend being 50% in cash until that CC passes. Also keep one Pirate Eye open to Asia, where the markets have been falling overboard, as predicted in our featured German painter Edvard "Munch" piece tilted "Munch More Fear ScReaming in the Equity Risk Premium." (http://psychologyofthecall.blogspot.com/2008/03/munch-fear-screaming-out-loud-in-equity.html) Thanks for reading and understanding the Psychology of this Call.
Posted by The Call Team at 12:40 PM