Emotion Remains The Enemy
A market this passionate is a dangerous market, long or short.
- Want an example of why it's hard to make (or keep) money in "bubble stocks"? How about Crox (CROX)? The stock was off 30% today as of 11:30 this morning, bringing it to levels we haven't seen since... (drumroll here): about 2 months ago. Crox has been a short favorite all year but, unless it had near-perfect timing, Boo's crew is still in the hole on the name. Just because the Pigs are getting slaughtered doesn't mean anyone has really "won".
- Despite the early stock plunge it seems worth noting that it's pretty dry in Boring, Big Cap Tech. Intel (INTC), I'm looking at you, sweetie.
- You can fire all the bank executives in the world but you can't make them take their subprime exposure with them when they leave. In a similar thought vein, just dumping Gary Forsee didn't do much to fix Sprint (S). "Fresh blood" is only as good as the ideas it carries with it.
- Microsoft (MSFT) is slightly higher. Trading well in a weak tape is a pretty bullish "tell".
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