Current Market

I believe the psychology of the market is: We are gonna have a correction and when that comes i am all in. Every one wants in no matter the costs. That being said i believe it is a stock pickers market.

My largest holding in order are as follows
MPEL
DF
HBAN
SKF january 2012 $15 puts
NOK


When looking over these investments (I know the Puts are crazy idea but i believe 2011 is the year of the banks) i don't feel like the valuations are that far stretched.

Look at a Weekly chart of Dean Foods. At $10 bucks this thing is a steal. If food prices come down which they will this companies margins will go ricter and they have some serious pricing power.

Melcro Crown, this is a pure Macau play on the casinos. I currently believe that this one is on the verge of an upside breakout. China is starting a secular bull market very similiar to the united states in the late 70's. The chinese are in love with macau and so am i. Google map the city it is really cool place and will be an international destination for years to come. Melcro made money lasy quarter and report on wednesday. I belive they are going to blow out the numbers. I am buyer if they show any weaknes.

The banks are sitting in a sweet spot. They are flush with cash and able to borrow next to nothing and lend out at a higher interest rate. This isn't changing any time soon. The big money has been purchasing some large amounts of the C $5 september calls.

Currently have about 25% cash for this correction that the market needs. I read somewhere if it is a flash crash it would be in the bulls favor.