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Today, Itz Stock Chartz suggested an energy play, getting long crude oil via the ProShares Ultra Crude Oil ETF (UCO) under $9 and to phase into this position. Oil has been overdone to the downside, the UCO is leveraged 2:1 on the movement of $WTIC. Why energy? Itz believes that the economy is doing much better than most believe and that the selling in the markets is out of FEAR and UNCERTAINTY...which should be resolved soon. Doug Kass posted a very astute report today-- Fear is the Friend of the Rational Buyer >>LINK
Another indicator that is giving a bullish economic signal is the railcar loadings indicator from the AAR >>LINK
You had all the bear's out today giving dire outlooks and pessimistic downside targets for the S&P500...which was actually a bullish contrarian signal. Nouriel Roubini was in full force calling for another 20% decline in the indicies from here. >>READ
This is interesting, Hedge Fund Managers: Drowning in 'Liquidity' >>READ
~~BREAKING NEWS~~ US Senate Approves Sweeping Wall Street Reform Bill >>READ
MARKET SENTIMENT:Why investors are turning more bearish, with Mark Hulbert, Hulbert Financial digest editor.