I am creating a new section (to the right), which will be called, "fade fastmoney". For those of you not familiar, there is a tv show on CNBC called "fast money". They try to offer tips and tricks on trading the market. Now, sometimes there is a little too much hype for a sector or a individual company, and they bring on "experts" to make there case for higher/lower prices (whatever the current trend is). This is where this section comes in, as we will "fade" or go against the trend.
If the show says "buy", we sell, go short. If the show says, "sell", we buy or cover short.
For example, back in November, the show compared GOOG with Gold, and asked the audience, which will happen first? GOOG to $1000 or GOLD to $1000? Well, that was my trigger to sell GOOG as it just ripped 200 pts to over $720/share. But not only that, along with all the technical reads that a correction was near, it made sense to exit/short GOOG.
Another example, GS has fallen recently from $180 to $164. The other day, an "expert" appears on the show, and explains why the brokers are too expensive, especially GS. 3 days later, GS is over $170.
It seems to me as if they have someone watching for recent trends, and then bring on the expert to make a case for the current direction of a particular stock/sector. Unfortunately for them and the show, it's usually the end of the trend...
tb
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