Bearish

We are officially in an extremely bearish enviroment. The world is coming to an end. I am looking at opening a large short position in VXX very soon. Even if i am wrong by a couple of days it will eventually correct to the low 20's.

Ford

I have just bought a small position in Ford during after hours for $16.2

Pull Back and Rally

Would be really nice to get a pull back with some heavy put buying to create an end of year rally.

I am still long mpel and CHK, looked at shorting goog and passed.

VXX

I am looking to play VXX puts on any vertical ascent

Google

Just like everything else on this gravity must be a forced reckoned with. Last night Larry Kudlow made a very important observation. Facebook is taking market share from Google. This has been my thesis for the past 6 months. With QE2, David Tepper, and everything else bullish i have managed to get stoped out on Google many of times. On Friday of last week i opened a large put position on GOOG and sold the same day.

I am now looking to reshort for an even larger position. I think $500 is in the cards before year end.

CHK

I have bought CHK in after hours at $21,88.

Weak Dollar

I am looking at companies that would NOT benefit from a weak dollar. One that comes to mind is AZO. They have to buy most of these parts from overseas. This would raise the costs and hurt over all sales. They do 90% of their business within the US.

Bullish

I have been a big bear through out this entire rally. I lost my shirt and my shorts. One theme I have banked on is MPEL. I have owned this stock since $3.35. Today the bid is at $6.63. We are about to report earnings and any weakness should be bought.

This could be the next LVS!

Insider Selling

Yesterday was the highest insider selling i have ever recorded in the past year. One particular equity had $1,000,000,000 of out flows. That's right $1 billion dollars.

Recap 11/1/10

I can't tell you how important the new high ratio is to the market. Today we had 18 new lows, bringing the 10 MA pointing down. We had 200 new highs. This means we have to to break through the 678 new highs before we can go higher. We set this date on 4/26/2010. Until these new highs can be broken i will be looking to short not get long.

Tommorrow I think the market will punish the weak shorts.

Keep watching MPEL.