Richard says his fundamental analysis "is the canvass on which he paints" and technical analysis gives him the proper entry and exit points. Technically speaking, Richard believes that there is some "top-building" developing in the S&P 500 and thinks that it may test the August lows of 1370. He also sees "top-building" in the oil service and exploration stocks, so he is shorting such stocks Frontline (NYSE:FRO), Teekay Corp. (NYSE:TK), Transocean (NYSE:RIG), and Schlumberger (NYSE:SLB). Richard used the phrase, "thrown the baby out with the bathwater" when describing regional banks (the baby) and Big financials (the bathwater). I love metaphors! He is also the only pro that I have interviewed that is bullish on the dollar.
He is a contrarian and you should probably Listen In!
http://www.wallstreetreporter.com/page.php?page=featured&id=27351
Subscribe to:
Post Comments (Atom)
1 comment:
Another grear newsletter.
Post a Comment