Flem, you have shorted the following 13 stocks.
HVN, JBH, APN, CBA, MQG, MQA, SUN, FLT, TLS, FMG, CSL, WOW, and WES
While in mid-May I shorted the following 13 stocks.
ANZ, BHP, ORG, IAG, MQG, BSL, CBA, CSL, FMG, TLS, WES, WBC, and WPL
There are a few stocks common to both lists. However, I eventually closed all of the above shorts, but with only 4 wins out of 13. Consequently, although I am tempted to rebuild a short list, I am presently being more cautious. Hopefully I will not miss the big one, but I could.
Last week some monkey from the Fed mentioned something about interest rates in the US going up which resulted in an intraday spike down on the SP500, but followed by a recovery. Consequently on 26-Jun the SP500 chart shows a candlestick hammer, but not at the bottom of a trend as normal. The point of this discussion is that Yellen speaks again on Wednesday night, hence, I suspect that she will be trying to downplay the Fed monkey's gaffe from last week. She is probably thinking to her self ... hey, its not just me that can fit my foot in my mouth. I suspect that the global market will continue to rally, albeit with a grind, after Yellen speaks on Wednesday night.
The US has the big holiday on Friday. That is, their 4-Jul Independence Day holiday. I lived in the US for one year in 1991/92, and then again for 8 months in 1997/98, and I noticed that the US citizens were quite excited by their Independence Day holiday. I remember sitting in a park in Boston and watching a huge B2 stealth bomber fly over at low level as part of the Independence Day celebrations. The upshot of the 4-Jul holiday is that the market will be closed and the NFP number will be delivered on Thursday night rather than on Friday as usual. Again I suspect that the US market will close higher on Thursday night as the monkeys at CNBC, etc, will put a positive spin on the NFP number, whatever the NFP number is, so that everybody can be happy going into the Independence Day long weekend.
In summary, I am still subscribing to the theory that the SP500 will continue the slow grind to the 2000 level before a trigger for a significant correction will occur. However, I have been wrong before, and I could be wrong again, but good luck with your present set of shorts and the BEAR.
