Replies to post #661762 on Zeev's Turnips Patch-No Politics (ZEEV)

[BuzzOnDaBeach]

Still too many people calling this a top for this to be a top. mabye at 1220, but probably 1270. Tops come when they are least expected and the last of the bears have capitulated. Prechter's new ETF service called short Dow and long Gold 2 days ago. Gold will probably keep going up for a bit, but you know the Dow's goign up if Prechter is shorting it.

Buzz

[goofyfoot]

SM, I know what you mean about holding shorts in this market. I lost half my year's take on TZA and BGZ a couple of weeks ago. Stayed out, ever since.

A few possibilities came up in my "board readings" this weekend:
ABK (very speculative), AGO, and MBI.

The story is that since all 50 attorneys general suspended foreclosures, that banks will have to repay these monoline insurers, due to the potentially fraudulent ways in which the banks packaged CDOs. I don't really understand it any more than that, but it makes sense.

MBI hit its 52-week high on Thursday, AGO is close, and ABK rose from the ashes, starting last Wednesday (60 or 70 cents to over a dollar). I'm going with ABK!

BTW, it looked like that kid was going to die from that pepper!