My foray into the insidious world of low priced stocks paid dividends, on the day of the Lord May 13th, 2009, in the form of large capital losses (paper). As amazing as it may seem, I executed zero trades today. I had the old “deer in headlights” demeanor going on today, much to the chagrin of the doomsday crowd.
I would mention my losers; but it’s too painful. I rather make believe today was a nightmare of sorts, where Freddy Kruger was chasing me around some filthy boiler room, cutting my face to ribbons.
According to The PPT, today represents the 3rd lowest score in its short history, with an overall reading of 2.17. There were two occasions when the score was lower, on 2/10 and 2/17. Also, there are zero sectors with a “buy” rating, out of 198.
Based upon past action, it is likely the market will trade lower, before it strips the bears naked and dumps them into hot pools of tar. With my 35% cash position, I opted to use it to buy dips, instead of hedging. However, knowing me, I could change my mind tomorrow. I’m volatile like that.
Off to eat a faux hot dog.
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