Beefing Up Their Numbers

Given the spate of ugly news out there today (especially regarding the U.S. consumer), you'd think the market would succumb to some serious sell pressure. Yet, no dice.

Technology continues to be the go-to area along with very aggressive speculative action in the high-beta stocks (china, gadgets, chips, & solar). Indeed, it looks and smells like hedge funds are doing their best to beef up their numbers before they close the curtain on the third quarter. We should continue to see more portfolio games tomorrow.

All in all, a great time to day trade some positions - something I suspect many of you were doing today. Tomorrow's plan is to take some time to tee-it up with Michael Steinhardt of HedgeFolios. I'm sure we'll be talking a lot about the market, stocks, and comparing notes. I'll still be around tomorrow morning before I head out, but I wanted to provide a heads up. It should be a lot of fun and probably will be one of my last rounds this year. :(