I would be selling right now at the 1520 level on the S&P 500.....Technical resistance to the upside.....If you forgot to sell in July today is your day in my own opinion..... I can't see how a 50/50 point move says the economy is healthy..... SDS entry is at 51.42 as a hedge to the portfolio..... I am selling everything again.... Reducing most positions to 25% of original amount.... What a day in the market.....It's another record for me on the P/L $COSTAverageMAN
True, and that could indeed be possible... I mean, Merril has a $5.5B write down and the stock goes up. I guess anything could happen in this market. Very Pikey. B p.s. I didn't want to mess up this thread as it has great value - I'll leave my comments to other threads. Best trading to all.
Selling all China/Hong Kong/Taiwan Large Cap and Nasdaq traded ADR's......CHU, CHA, CN, CHL, LFC, PTR, SNP, HNP, ACH, AUO, EDU, STP, SNP, YGE, GSH, YZC, CEO, QXM, JST, JRJC, GIGM, BIDU, HMIN, MPEL, SNDA, SINA, SOHU, UTSI, CTRP, COGO, NTES, XING, CSUN, FMCN........ CEF's and ETF's------TDF, FXI, PGJ, TWN India gets the boot as well.........HBD, IBN, IFN, TTM, SYNT... All great things come to an end......I don't feel that today is the day, but for me it's time to call my top and wait for better prices to re-enter.......I always ask myself when I sell a stock that I really like "Would I buy more at this price?".....That one question answers much of my doubt......... $COSTAverageMAN....
Well around 2:15 today I was feeling like I had called a short term top on around 30 momentum chinese names.....Watching them all fall around 5% below where I let them go......I would say that is probably one of the hardest things to do in the whole dam market.....But of course most rallied back to close near the highs of the day.... I am very pleased with the move and only time will tell if I will be proven right or wrong, but I have always been one to follow the crowd only to try and get out before the biggest players dump.... All I have to say is the momentum players are in total control since the august 16th bottom.... that does worry me....best of luck to all the traders and all the EBAY holders today...... Thats a nice number!!!!!!!EBAY!!!!!!!!! HMIN----Just kept on humming along after I sold....oh well $COSTAverageMAN
Hey $Cost - Somehow I had missed this thread over the past year. I remember when I first joined here I really enjoyed reading your posts, and then you disappeared for a while. Its nice to see you're still updating the thread... I may not post much but I'll be lurking
I love how everyone is bitching about the dollar like little girls....It's been doing this for 6 years and now it's a problem....This is exactly why the market created hedging instruments....Just pick a currency tied to an economy that is commodity based and get on with your day....Not all that difficult to do and it's been working great..... Today is just another example of all those hot momentum stocks getting crushed..... The bag holders trying to get out wondering about the new high we hit just 6 days ago......should of would of could of...... The USD/YEN spelled the story 5 days ago....When that pair reverses you got to get out or get hedged..... $COSTAverageMAN