When I start feeling this good about myself it is time to pull in the horns a bit and sell some stuff.
My only loser in the long list of positions to the right was TBT which I added to in the 43's on the dip.... (and AA was down 4% as well)
My whole account was up 8% today and I am in no options positions (only long stocks) and the market was only up 2.0%.
I had 7 of my positions up over 10% today. A few of them were up over 20%.
A WONDERFUL day but as someone who has been doing this for a while knows you have to be careful in situations like this.
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All I have to say is -- wow! the whole day. wow.
ReplyDeleteI was suprised DXO was my third biggest laggard. You would have thought that guy would have been up 20% today with all the other stuff, right??
ReplyDeleteThe dow was only up 90 points but the inflation plays were REALLY working except oil.. Strange.
What I will say is that you have been spot on your calls this year -- which has been like every year, but this year on time and no options.
ReplyDeleteMy word of caution is -- when I play poker, and I start to play hands because everything seems like a winner -- thats when I start to lose.
You are probably right. I need to get some of this long exposure off and get some hedges in.
ReplyDeleteI do think the government is not going to be able to hold down rates forever but you might be right that it is a bad short term trade....
That being said, look what happened with the Bank of England when they tried this a few days ago.
http://market-ticker.denninger.net/archives/878-Caution-On-Quantitative-Easing-QE.html