Friday, October 20, 2006
Closing Comments
I am done guessing when the market is going to "top." After every sign of weakness, the market rallies back and takes out new highs. At some point, no matter how unbelievable it may seem, I have to give this market the benefit of the doubt. No?
Despite armageddon numbers out of CAT and SNDK, the market managed to go green-- a clear sign of a market wanting to go higher. Therefore, I am putting my shorts to bed and will come to work Monday with buy tickets in hand.
As for me:
It was a rough week, owning CTXS and SNDK caused my year to date gains to slip about 1% to 21.1%. Furthermore, I am starting to rethink some of my positions and will likely make some major changes next week, considering I have been making a lot of rookie mistakes.
For one, I will start buying some speculative micro-cappers. Call me crazy, but I love playing the junior stocks more than anyone. At the end of today's trading, I started a position in MVIS. I don't recommend you follow me on this one, but take a look at their technology-- pretty cool. Also, they own a chunk of LMRA's stock. Check the run that stock has been on. Finally, an employee of Microvision has a pretty cool blog, describing the company very well.
Despite armageddon numbers out of CAT and SNDK, the market managed to go green-- a clear sign of a market wanting to go higher. Therefore, I am putting my shorts to bed and will come to work Monday with buy tickets in hand.
As for me:
It was a rough week, owning CTXS and SNDK caused my year to date gains to slip about 1% to 21.1%. Furthermore, I am starting to rethink some of my positions and will likely make some major changes next week, considering I have been making a lot of rookie mistakes.
For one, I will start buying some speculative micro-cappers. Call me crazy, but I love playing the junior stocks more than anyone. At the end of today's trading, I started a position in MVIS. I don't recommend you follow me on this one, but take a look at their technology-- pretty cool. Also, they own a chunk of LMRA's stock. Check the run that stock has been on. Finally, an employee of Microvision has a pretty cool blog, describing the company very well.
