The Meltdown


I’m getting lit up right now, as my YTD gains are evaporating before my eyes. I have to keep telling myself to have a different outlook. For instance, I own USG and IMUC based upon fundamental theses that extend past 2013. I don’t see why I should sell, only to try to get back in at a lower price, with the risk of selling at a bottom. With that being said, I’m still frustrated with my other plays, which were supposed to be technical and fundamental driven. My postions and charts are here on Finviz. Look at those charts. I’m walking on thin ice, speaking on technicals. It looks like everything is about to meltdown. I need to make a decision, but I think I will attempt to stomach this correction. I can try to fight it with some intraday hedges.

Enough of my problems. I have two things popping up on the radar right now: TASR and UCO. I posted about TASR last night, so this is just a reminder to take a look at it. It can run here. Oil is having a hell of a day, and thus my UCO position is back to break-even. It has the potential to put in a short term bottom here, and maybe revert to the mean since the intense selloff.

I will be back with some more insight into Apple tonight, as it depends on how it closes.


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