Selling Out
I have sold out of, or gotten stopped out of every position except my GLD, SLW, MVIS, and MSFT.
I have purchased QID, DXD, SDS, and TWM.
Friday, November 2, 2007
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I trade full-time while simultaneously working full-time. I provide commentary detailing the pitfalls and profits that come while fulfilling the responsibilities of a senior management position and trading at the same time.
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18 comments:
Wood - if we rally hard Monday, which I think is a high probability, then you know the Fly is going to call this another "Woodshedder Bottom".
You are 2 for 2 at closing positions at lows and going double short at the market bottom. Thanks again Woodie.
This has been a terrible day for me.
You're welcome.
Don't sweat it.
Go eat a chocolate bar and buy a little stock to hedge.
Did you eat that chocolate bar yet?
I suggest Chunky.
Good stuff.
WCG ripping.
VMI looks 'southern cheap.'
Hey man, I'm trying to get some work done around here!
Nah, I settled for a piker special: one of those 39 cents chocolate chip cookies from Subway.
I'm really having a hard time believing the market is going to continue to rally. As much as I want to buy shit up, I've been taking a fricking "southern cheap" beating. If I lose another 2K, I'll be at breakeven for the year. That is ridiculous.
Thanks for the encouraging words though. And for your sake, I hope this is another Woodshedder bottom. Unless of course you have thrown on more shorts...then I will say Bulls be Damned!
I take back my 'a lot of positions' comment from yesterday. :)
Jeff, I think your comment about my number of positions wiggled its way into my psyche and caused me to freak out. Yeah, that's my story.
Speaking of freaked out, did anyone see the futures this morning on CNBC? They had Dow down 350+ and Spy down 50.
They had Dow down 350+ and Spy down 50.
Jobs to the rescue!
What a choppy day.
Last chance for some longs.
May I suggest a taste of VMI?
Gold, up another $12 to 806, oil at new record high, dollar at new record low.... I would say these are times where it pays to be cautious.
Wood,
Scale into Gold/Silver and unhedged shares starting now and on any pullback(Do not let large corrections in this secular generational bull shake you when they come!). After you have your position, take a 2 year sabbaticle from the stock market while spending time with your family and working on your business career goals. Come the end of2011-early 2012, liquidate your gold/silver positions for a mind boggling return and rotate those proceeds into either downtown San Diego Condos trading at .30-.50 on the dollar(Marina District/Gaslamp) or senior Mobile Home Parks in the "Gold Country" of California. http://www.sonoraca.com.. Come 2020-2025, liquidate your California RE and retire very wealthy.. See, its just that simple.. We make things way to complicated by churning stocks all day with out looking at what the larger secular trends are. Trend Following using macroeconomic research and a simple ruler will suffice to get your golden egg. The majority of money managers would have you believe that such things are not possible. For if they were, one would not need a money manager. Scary thought.
Sierra,
You come back in 20 yrs with your vast fortune in gold bricks and Cali condos. In the meantime, I will continue to invest in stocks.
By the way, in '80 gold hit $850 so you still have to wait another 50 points to break even if you bought some back then during the euphoria. See you at $500 in 2010.
Catching a gold double by 2025 will put you in the poor house.
Ok.. Thanks.. New. very insightful.
MDAWSZ.. 2011. done. end of story. case closed.
C'mon, I am mean if you cant see it now, you're never going to. White Squall is coming... and I guess the mass majority will have no clue what hit them.
Sierra, I see you have things all planned out. That is also very similar to the plan I will be following. Only difference being, I think you may be about a year early with your 2011-2012 re-entry into the real-estate market.
Sierra, what the heck is this White Squall thing?
The white squall is a gold double...by 2025. WATCH OUT...mortgage the house and sell the furniture.
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