Hedge Idea of the week, May 4-8 (Airlines, REITS)

Don't see any "earnings trends" worth playing next week.....

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I continue to look at DZZ on every single pull back. (ie short gold after every pop)...until gold hit's 750. I had called gold short up here LAST week...so a dollar shy and a week early on the ideal entry, as it waited till this week to crater again. My opinion is gold is headed to 750 for starters, so I am always looks to enter it short, over and over again. (or hold it till that target, either or)

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TM reports on Friday, may 8th...but there's no way I would play that long, even running into the ER. In my opinion its one of THE most overvalued stocks in the entire market. If it does however run into it's earnings, or even pop from it, i will likely be looking into a few JUNE puts on it.

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SPG is setting up yet again as really nice here for a short here for next week.

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- csco

- grmn

- fwlt

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those 3 report on WED, next week, they are somewhat mini "momentum" stocks....but i don't think there is that much uuumph in those names going in to earnings. Might be wrong, but i just don't like em too much.

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The AIRLINES are the sector that looks like the best buy here, to me. (uaua, lcc, etc)

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- they do benefit from deflation (cheaper oil), and they really got sold off very hard from the "swine flu" this week. I think they get bought up big time as soon as "swine flu" fear goes away. (of course there is inherent risk, i mean if swine flu ends up being WORSE than the knee jerk fear, they will sell off even more...but i don't feel that is likely, i mean they got ALOT of "fear selling" this week, alot)

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the short gold, again is something to me that is longer term than a week, I'm pretty much always short gold, as i believe there is still much more deflation ahead.

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So next week, it looks like LONG airlines + SHORT reits for me.

I'll post the charts of each index, and just list the 2 names i like most from each, in order.

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AIRLINES (long)

- lcc

- uaua

REITS (short)

- spg

- vno