May 18, 2009

WATCH JOYG (JOY GLOBAL) AND BUCY (BUCYRUS) FOR SHORT SELL

JOYG and BUCY have spiked up today on speculation that India will buy more of their coal mining equipment. There is no sound basis for this speculation. We do not anticipate these two companies gaining much larger revenues from India any time soon. Watch these two stocks for spikes up to start tip toeing in with light short sell positions.

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CONSIDER PARTIAL SELL ON INDIAN ETFS

Indian market is up 17% in the wake of unexpectedly large victory for the Congress Party. Most experts predicted congress coalition to win 210 seats but they won 260 seats just 14 seats short of majority. Consider lightly selling and taking some profits on spikes up and tightening stops on the rest.

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