I'm currently biased to the long side and have been for a while now (maybe too long of a while, but that's another story for another thread). I do see the economy improving over the next year, and along with it the stock market. But that being said, I get less and less bullish as this rally continues. But I will stay long at least for the time being.
Ouch, tough day today as I went in to the weekend completely unhedged, something I rarely do and today am paying the price. What's worse is that I sold all my commodities a week ago and they are all running! $sox looks like it is confirming the breakout so need to either shut down the shorts or get hedged. I'm thinking that I keep and add to the SRS puts, take the loss on the NQ puts, and buy some DRYS/KOL calls. Thinking being that if the recovery is for real then KOL and DRYS are going to run big and if it is not and things start falling apart SRS is going to take off. And even with a mild recovery scenario which has most of global growth overseas SRS can remain weak while DRYS and KOL run. Maybe I should throw some EEM calls in to the mix.
Stockboy201 thought I was spamming when I wrote "Look for a big up day on Monday". So stockboy, how much money did you lose, or did not earn?
Portfolio took about a 2% haircut today, so what, the market running straight up to me looks to be manipulation at best. I don't care what anyone thinks, nothing has changed over the last 2-3 months, in fact things have gotten a lot worse but of course everyone will seem to ignore that when the market is moving higher on just some lame outlook that things will be turning around in Q3 and Q4. I guess this is the outcome when you have the printing press running the markets and fantasy like economy. Wake me up when the bears start to rule the markets again because I know the bears will be running once again, this rally will be erased TWICE as fast as it rose.
Just wondering did cnbc declare the crisis was over today??? I was away from that great programming today and wanted to know what cnbc had to say about this great new bull market were in. thanks