Midday Observations

  • Call buying is still very high.
  • There are more stocks declining than advancing even though the market is higher.
  • These two indicators support a lower market in the short term.
  • I have been searching far and wide for cheap stocks today. For the most part the cheapest stocks are the more economically sensitive stocks. Since I am bearish on the economy I am not interested. However, I have found a handful of stocks that look good.
  • Take Two (symbol:TTWO), the video game maker trades at a single digit multiple net of cash. If anyone knows about this stock drop me a line.
  • Listening to politicians talk makes me want cry and puke at the same time.

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