>From a hedge fund newsletter :
>From a global perspective, I can say is that I find indices elevated but an abundance of interesting single stock longs. Companies have cut costs and are very lean. A small up tick in demand would drive significant upgrades in earnings. People may have issue with funnies and distortions from earnings but the reality is that cash flow has improved and that credit spreads have tightened as a result. It is merely the rally from the lows that make us all bearish, not individual company valuations. Pick stocks and buy index puts would be my advice, maybe not what the macro investor wants to hear. Until the end of earnings season, 1000 on the s&p has just become support it seems. Wait until the institution get long before you sell. There is not enough wait on the long side for this market to sell off. The pain trade is up. -- ______________________ Navin NS Capital Partners --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
