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  • marklibera marklibera Dec 5, 2011 8:41 AM Flag

    Mark - EVEP is again underperforming

    Stagg, I didn't say EVEP was dead, just consolidating its gains. There is some disappointment, supposedly from hedgies, that the Utica monetization did not occur earlier. But trying to explain this to Susan, who is fascinated with day-to-day trades and minute-by-minute prices, is almost pointless.

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    • mark...Dead was probably a bad choice of words on my part as EVEP is just catching it breath a bit at this time....

      Even though I am not holding EVEP at this time I still follow it because it was my leading gainer in 2011...SFL, FRO and RNO also seems to be picking up steam at this time...I am not holding FRO but it is still on my watch list...

      That said, all the markets are hot this the beginning of a Santa Clause rally...? It seems a bit early for that (Susan will probably be quiet today because the markets are up)...Good luck to you...!

      • 1 Reply to staggman99
      • stagg, the markets remain captive of the European situation. This week, there is going to be a big push to "convince" the markets that Merkozy finally has a plan to get Europe under control (read: to convince the markets that they are going to give the bankers more time to avoid failing and having to dump all of their assets at fire-sale prices). There is even a rumor that the Fed is going to lend to the IMF so that the IMF can lend to Italy and Spain. The powers that be know where the technical lines are so they have a big incentive to push the market up over those lines to get short-covering rally into year-end. Also read today that the voting membership of the Fed changes at the beginnning of the year and 3 of the hawkish members will be replaced with 3 doves. Marty Zweig once said you can't fight the Fed.

        The tricky part for me has always been when to use these rallies to lighten up on some positions (or sell covered calls) and not be consumed by the bulls. In the meantime, enjoy the rally while it lasts.

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