I was a behind the powercurve coming into 2009 with my post. I blame all my holiday travel....yeah that's the excuse. Anyhow, I'm going to hit it hard for the rest of 2009. My carry-over from 2008 was my January put on DRYS, which looks like it will expire worthless as they have had a nice run-up. Their move was primarily based on the Baltic Dry Index. Obviously, as rates increase (which they have) the more a company increases their profits, plus traders realized just how crazy it was to see DRYS in that low of a range.
Going forward....I'm still negative on the retailers in general and positive on the metal and miners. On the macro-level, the big 800-lb gorilla in the room remains the looming stimulus plan and how that will be pushed forward as Obama's team takes office.
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