Wednesday, October 04, 2006

 

Closing Comments

Sometimes you get lucky.

Yesterday, I had a hunch to cover my RACK short and lever myself to the upside. I don't know why, it just felt like the right thing to do-- considering CNBC got their new fucking high.

If you were long today, it was exquisite. I was up over 2.3%( ytd return now 26.7%), as everything in sight was bought up by the dip buyers.

The only short positions I hold are ATHR and MZZ. However, they are very minor and had little effect on performance today.

I know many bears are scratching their heads now, wondering: "What the fuck just happened?"

Well, in short, you got your ass kicked by a bunch of raving lunatic bulls, who are unable to differentiate a PE from a pea. They are just here for the ride and are all about having fun, while deploying billions of dollars into securities that are likely to be 10-15% cheaper, within 6 months.

Nice.

The long term (6-12 months) bear case is definitely intact. However, for now, the market has extreme momentum to the upside. Therefore, it makes sense to ride the wave.

NOTE: Due to client meetings, I will be away Thursday and Friday. However, I probably will post Friday evening.

Comments:
another internet crap frog- your saying you have a million bucks in the market and you have nothing better to do then share your hift of gab on some blog ( B S'er )
 
No.

I manage many millions for clients and write about it.

You dislike?
 
Broker,

It's probably better to just ignore these people. Not worth your time, IMO.

I'm sure most visitors enjoy reading your blogs and learn from them.
 
Don't listen to this chump that posted anonymous. I enjoy reading your blog.
 
Ignore that fool. I enjoy your blog. I add humor to my day.
 
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