Friday, March 22, 2013

Lemon Markets


Short Side Of Long- Fund Managers Are Alarmingly Bullish!
Some good metrics to remind us that the markets are frothy..

Chinese PMIs were good..

But not good enough to finish higher in the US session.

Australia's possibly facing a leadership change before the upcoming election with Gillard's approval rating 33%.  Obvious Rudd was supposed to challenge Gillard, but didn't do so, showing why he lost his position in the first place.

I had Sundance at 27c, and got out at 30c, after having a much higher exit price, but now sitting at 21c, we might see it fall further if the deal is called off.

My short in this stock is in the green, but it recovered some of its losses yesterday on news that it will expand into Golf ranges and the quality issues was a one time problem.  It also managed to beat earnings expectations by 1c.  The stock is near it's key breakdown level around 65, would be a good place to reshort, with stops around 68.