Of Shorts and Longs

 | Nov 09, 2012 | 1:56 PM EST  | Comments
  • Comment
  • Print Print
  • Print

Boy, the shorts are fearless here and the longs scared of their own shadows. The president and the Speaker said many right things. I am as cynical as anyone. I understand that the Speaker may not be in control of his own party. I recognize that the president has the upper hand after his big reelection.

But I do think that the Speaker did say that the Republicans would allow some revenue increases. And the president made the point that someone has to stick up for the 98%, and help them via taxes.

Hmmm, 98%. Tough thing to run against if you are a Republican.

There's common ground. That matters.

Still, I think the market doesn't know what to think and is tired of being fooled. Plus, the shorts feel that they can do whatever they want and not get hurt.

Sometimes you have to step back and ask if they are closer than you thought or further than you thought.

I thought they were closer, which means that the upside may not be chimerical.

The shorts are being too glib and the longs too skittish.

Columnist Conversations

I set you up for the trading Week Ahead from the floor of the NYSE with Peter Costa of Empire Executions... Ha...
LNKD is trading $226.08, up 3.1% with IV30™ up 0.4%. This is a stock price and volatility note on a so...
From Moody's: "Dynegy announced that it expects to finance the transaction with $5 billion of unsecured notes ...
Kohl's is beginning to lose its upside momentum this week. The stock has been in hyper drive since the ...

BEST IDEAS

REAL MONEY'S BEST IDEAS

Columnist Tweets

BROKERAGE PARTNERS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.