I am covering a bunch of shorts today after this Tim Geithner speech. As bad as I think he is as the new Treasury secretary, the markets are showing signs of a temporary bottom. As a trader, we can never fight the market despite longer term beliefs. Large instirutions are starting to pick at stocks so its time to ride this wave for a bit. I covered most GBP and EUR shorts and long FXI, BIDU, CTRP, TBT, VT, AET.UN. I also feel oil is bottoming so this is time to start loading up on Canadian oil trusts that have great management and already reduced their dividends substantially such at Arc Energy.
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