I covered all my REIC shorts yesterday afternoon - hogs get slaughtered right? So sitting on dollars looking for a place to go.
Also have too many dollars again - although HSBC, eLoan and FNBO accounts are all paying 5%+. But with Helicopter Ben (son of a bitch) spouting off again today that he's gonna get to 0% as fast as he can, dollars seem dangerous again (especially when spending Euros - unique situation for me).
I still like commodities (oil, miners, DBA, gold), foreign ETFs (RSX, EWJ, EWZ) and Euros. But I'll be spending the next week trying to figure out the best way to protect equity again, and maybe some new non-REIC shorts.
The big banks all report earnings next week and it should be a roller coaster. Has the market priced in their epic disaster? Or are more surprises on the way?
Tell us where you have your money today, and what you're thinking for 2008 - short and long...
January 10, 2008
Housing has crashed and is gonna get worse. REIC stocks have crashed. Gold has skyrocketed. CD's are earning 5% tops. So where's your money today?
Posted by blogger at 1/10/2008