The employment numbers were bad, but we are bouncing off the lows. Thus far, I’ve sold 75% of my [[SRS]] position and 90% of my [[SKF]] position.
Quite honestly, being up more than 35% year to date, I find no need to be greedy here. I’m not interested in catching tops or bottoms, just the fat middle.
However, I will not adjust my [[SMN]], [[EFA]] and [[DUG]] positions. I do believe there is downside left in those sectors.
We all understand how awful the economy is and how stocks are for asshats. However, keep in mind, nothing goes up or down in a straight line. The downside may be stalled by selling exhaustion.
Do not misconstrue my profit taking ways for wanting to play the long side. I’d rather run around a fucking mine field, with magnets on my feet, in the middle of Afghanistan.
With the proceeds, I will stay in cash.
UPDATE: If you’re going long, hoping for a bounce, be sure to keep tight stops. I believe the market may “re-reverse” and head lower into the close. If you’re buying here, you may end up going bankrupt or wiping out your entire bullshit E-Trade account, by early next week.
Leave the trading to pro’s like me. You over there, just shut up and watch the master at work.
Class dismissed.Comments »