I was expecting premarket to be lower...but it looks like rate cuts have a buzz about them. If the market continues in an uptrend until bernake speaks, look to short or open put positions. The market is going ahead expecting stuff again and remember we are still a few hundred points off the bottom. We still have a ways to drop I feel.... Personally, I'm hoping for a rally today and tomorrow and then a drop off. Look to open put positions on largely overvalued companies...such as FSLR, BIDU...etc. The street feels it's not worth paying a P/E when growth is in question.
As for EMC, I got most of it right this time!!!!! Now I wish I would have sold it all, but hey what can you do?? Well, if EMC reports a good number and dazzles investors today...it is a cold cut buy. Period. EMC was way overdone yesterday, down to 14.90 / share. If they have good earnings, and are at this level, I will purchase shares and options of this stock. Be careful to watch VMW, as these are tied regardless of EMC's internal business.
Regardless, opening a position today in a bank stock or retail is my way to go. Rate cuts will get us out and spending, and even a little bit has changed big money's attitude toward these stocks. I will research some 'safe' plays and get back to some posts later today. Good luck.
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