I mentioned that I had sold my FMD because it was getting very near the support line. It cut through today. I'm not sure if $29.50 is support or not, but I did not want to be along for the ride to find out.
3 comments:
Anonymous
said...
Been a tiring month. My options account is up 155% from Nov 1. Partially from gaming the PPT and otherwise from calls on foreign currencies, puts on XLF, XLY, and XHB.
Today I bailed on FXP early, but snagged 10%+.
Only was able to move the IRA portfolio about 5% this week, mostly because I can't use margin or options. TG for the double inverses.
Bailed on DUG on time and SMN too early. Added REW.
Forgot to add... we got a Dow Theory sell signal today...
signifies the end of the bull phase and possibly a multi-month or multi-year bear trend.
I expect the Dow to bottom before too long and stage a couple month rally; only to be decimated.
Nasdaq is only about half way thru it's fall. The techs are toast. IMHO. If I knew how to short techs more than put options, and QID, I'd be doing it. Same for Financials, Real Estate, and Consumer discretionary. Soccer mom in Escalade stopping at Starbucks is over. (I do own SBUX on the low as well as ETFC on the secone dead cat bounce. You really gotta bounce that cat hard to get two flops! Played each like a fiddle so far!)
China will revert to the mean. Like a firecracker.
We are in interesting times, and an astute investor can make a killing.
Those who diversify and wallow in minutia, are not going to have a good Xmas.
DavidB: Nice work on your options account. Moving an IRA account 5% in a week is no small feat either.
Regarding Dow Theory: Agreed. Though, it seems to me that those signals are a bit out of step with the market. Remember how long it took the transports to confirm the rally that was well underway?
3 comments:
Been a tiring month. My options account is up 155% from Nov 1. Partially from gaming the PPT and otherwise from calls on foreign currencies, puts on XLF, XLY, and XHB.
Today I bailed on FXP early, but snagged 10%+.
Only was able to move the IRA portfolio about 5% this week, mostly because I can't use margin or options. TG for the double inverses.
Bailed on DUG on time and SMN too early. Added REW.
My best to you all, and enjoy your holiday!
Forgot to add... we got a Dow Theory sell signal today...
signifies the end of the bull phase and possibly a multi-month or multi-year bear trend.
I expect the Dow to bottom before too long and stage a couple month rally; only to be decimated.
Nasdaq is only about half way thru it's fall. The techs are toast. IMHO. If I knew how to short techs more than put options, and QID, I'd be doing it. Same for Financials, Real Estate, and Consumer discretionary. Soccer mom in Escalade stopping at Starbucks is over. (I do own SBUX on the low as well as ETFC on the secone dead cat bounce. You really gotta bounce that cat hard to get two flops! Played each like a fiddle so far!)
China will revert to the mean. Like a firecracker.
We are in interesting times, and an astute investor can make a killing.
Those who diversify and wallow in minutia, are not going to have a good Xmas.
DavidB: Nice work on your options account. Moving an IRA account 5% in a week is no small feat either.
Regarding Dow Theory: Agreed. Though, it seems to me that those signals are a bit out of step with the market. Remember how long it took the transports to confirm the rally that was well underway?
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