Tuesday, May 03, 2011

Sluggish Tuesday

The market is having another sluggish day, as interest rate hikes and the end of the Fed’s easing cycle weighs on investor’s minds.

Or so goes the reason du jour.

India hiked rates .5%, and Thomas Hoenig of the KC Fed said maybe it was time to unwind the easing policy.

As I type, gold, silver and oil are down.

Sears ($SHLD) is down. I won’t buy Sears stock for the simple reason I never shop there. The best place to park at malls is near the Sears, because that’s the least crowded lot!
Starting to feel like Sell in May?

I don’t day trade often, but am a little today. I’m not going to tout the name here, but I just wanted to note that today was a day I’m trying to spice things up. It’s a week away from earnings and already has a big short position as the stock as moved up a bit. It’s been volatile today. So, this could be a little spicy. Just noting it down in case I need to review in the future reasons why NOT to day trade.

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