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.
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:
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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 )
# posted by 
: 8:09 PM
: 8:09 PM 
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.
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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.
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