SKF: Bought @ 113.12

[[SKF]]

Up 400, down 200, up 100.

My guess is we end up 600, and fall 700 on Monday– this is getting ridiculous. Find a name you like and buy it on the down days, find a name you hate and short it on the up days.

Like: [[MELI]]

Hate: [[LEH]]

[[CF]] Nice close below the 50 day, looking to get short below $105

But, beware of the asshole dip buyer

[[MTL]] Looks about ready to rollover:

Why buy stocks?

Since the beginning of 2008, my short positions have been easy money, while my long positions require work. The only time I make money on the long side is when I’m in and out of a trade in hours– too much work.

Right now the only downside exposure I have is with [[SMN]] & [[DUG]]. (I wish I would have added more yesterday, but was caught up in a bull trap.) Nonetheless, they saved my day.

It pays to listen to fundamentals rather than of all the technical Jargon. “Hey look the VIX has spiked, we held the lows, the bottom is in!” When in reality, we just had a major collapse in one of the biggest investment banks.

The worst is probably far from being over, and I salute The Fly, as well as the rest of the bears, for playing this market for all its worth.

I was stopped out a portion of my trades today, as I was hesitant to take the easy gain.

In short, if you are a permabull like me, and get the itch to buy stocks, just make sure you take your gain when you have it. Don’t fall into the bull trap.

Take a look at a few Short Setups

Chart Toppers

High Volume