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Tue: Sells SPX SPY AAPL GOOG BNI CME OIH TLT

 
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arthur
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PostPosted: Mon Dec 26, 2005 10:40 am    Post subject: Tue: Sells SPX SPY AAPL GOOG BNI CME OIH TLT Reply with quote
The S&P 500 (SPX or SPY) is relatively overvalued compared to DIA or QQQQ, generally because energy stocks, which represent about 15% of SPX, are high. SPX Jan in-the-money puts or SPY Jan to Mar puts are buys on market bounces next week. AAPL GOOG BNI and CME are overvalued on end-of-the-year window dressing and should fall sharply on a market downturn. OIH is relatively overvalued compared to oil prices. TLT is high, because of low long-bond yields, which are in the lower range of a trading range, and should start to rise.
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