I am back to cash having closed PQUE for a 18 cent loss and GOOG for a $7.00 gain. I think GM looks like a great short here if you can get some.
I am shorting some semis as well as homebuilders. I will post a video going over the trades tonight. Brandon
Why? If you have spent any time following me you would know that I flip from bullish to bearish and back again quite frequently, but you have not. You just like to see yourself post stuff.
I have gotten 9 emails from people about being in cash, the majority of them telling me I have the luxery of being in cash because I am rich, while they as poor undercapitalized traders do not. There is only one response to this. BULLSHIT. I am in the position I am in now only because I have always tried to do the right thing by my trading account. If cash has been what is called for, I sit in cash. I looked at the end when I drew my account down to $8000, I had to get a night job at a gas station, but I made a commitment that I would do the right thing in my trading account. The only reason I have been able to grow it from that point is by continueing to do the right thing. Every time I stray from the path I suffer for it. Being undercapitalized is not excuse to do something STUPID. If anything it should be an excuse to struggle even harder to always do the right thing. I have some positions on, both long and short, but I am still 80% in cash. If that changes I will let ya'll know, but the most appropriate thing right now IMHO is to sit and let this storm pass by and get the more clear and easier opportunities. Brandon