Time to get ultralong the financials and energy. Time to get back into the ole faves like OXY. The bottom is in and the bear market has ended...there will not be anymore crashes in our time.
Why do you insist on buying financials now, XLF is up nearly 50% from its lows and now you shout out that its time to get long. I can guarantee you, you will be able to buy XLF again under $10.00 a share and UYG back under $5.00 again, no need to rush in on a any kind of triple digit rally to start buying, you buy on the massive down days.
Weren't you the one telling everyone last Friday that you'd be "fading" the rally and that there was NO WAY that it would carry all the way till the close? You also said that you weren't using any stops . . . http://www.elitetrader.com/vb/showthread.php?s=&threadid=147089&perpage=6&pagenumber=1
Why argue with facts and statistics? Ken Heebner just went long the financials and money center banks. You should get in with Ken and the rest of the experts. Ultra-long baby!!! http://www.gurufocus.com/news.php?id=38479
yes I did say that, on Friday I sold DUG and bought DXO and more TZA, as of today I bought more DUG at $33.45 and more FAZ at $38.00. Im averaging down into inverse 2x and 3x etfs at the moment, this rally will be disappearing soon as the dow makes its way back below 8000.
Birinyi Says Investors Should Lose âBunker Mentalityâ (Update1) By Betty Liu and Eric Martin Dec. 8 (Bloomberg) -- The Standard & Poorâs 500 Index reached a bear market bottom more than two weeks ago and investors should begin buying the largest U.S. stocks, according to Laszlo Birinyi, who predicted the rout in financial shares. âIâm very comfortable saying the market has made the bottom,â Birinyi, president of Birinyi Associates Inc. in Westport, Connecticut, said in an interview with Bloomberg Television. âItâs time to get out of the bunker mentality. A bull market is forming. Itâs just not going to be any outsized gains over the next three to six months. With all the concerns and issues around the world, Iâd be hesitant about being very, very aggressive.â âThe wind is at the back of the large caps,â Birinyi said, adding that financial stocks may rise over the longer term because they âhave been strong here and weâve been too quick to dismiss them all as tainted.â Birinyi worked more than 10 years on the trading desk at Salomon Brothers Inc. before starting his research and money management firm in 1989. He is known for pioneering money-flow analysis, which compares the dollar amounts moving into or out of a stock or index to establish whether it is being more aggressively bought or sold. ... Birinyi in an October 2007 interview said any recovery in financial stocks would be snuffed out as bad loans and lower revenue from underwriting reduce earnings. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNfia.F49Ixs http://www.bloomberg.com/avp/avp.ht...//media2.bloomberg.com/cache/v4o_1heW.3.E.asf
The "fact" is that Heebner has grill marks from being roasted alive by this market. CGMFX has gotten halved. He will only come out of his shell on up days. I do think we are bottoming and I do own XLF, but I ditched CGMFX back in June after a 21% loss in 60 days. No thanks, Ken.
Port if you had any knowledge of daily price action whatsoever you would be saying the opposite thing. Quit looking like a dumbass.