Monday, November 27, 2006
Closing Comments
Fuck me for not shorting stock on Friday. In my head, I knew it was the right thing to do-- but I held back.
I blame the fucking turkey for making me tired and lethargic. Fucking Thanksgiving cost me 100's of thousands of dollars-- and all I have to show for it is a lousy extra 5 pounds on my developing gut.
Days like this make me feel incredibly stupid. I mean, I saw the dollar decline and the frothiness in micro cap stocks, yet I did nothing but buy more. What am I fucking retarded or something?
I have very minor hedges, long MZZ and FXE-- but I wish I had more.
Just to recap:
If you own stocks today, you lost an amazing amount of money and will probably lose more tomorrow. Enjoy.
Every sector, but Gold and Oil, was hit hard and then hit again.
I am eyeballing SYNA and look forward to selling it short-- first thing tomorrow. As for my longs, I will give the market a chance to rebound. However, should it fail, I will draw down my positions and add to my shorts-- in order to hedge and lick my wounds.
I blame the fucking turkey for making me tired and lethargic. Fucking Thanksgiving cost me 100's of thousands of dollars-- and all I have to show for it is a lousy extra 5 pounds on my developing gut.
Days like this make me feel incredibly stupid. I mean, I saw the dollar decline and the frothiness in micro cap stocks, yet I did nothing but buy more. What am I fucking retarded or something?
I have very minor hedges, long MZZ and FXE-- but I wish I had more.
Just to recap:
If you own stocks today, you lost an amazing amount of money and will probably lose more tomorrow. Enjoy.
Every sector, but Gold and Oil, was hit hard and then hit again.
I am eyeballing SYNA and look forward to selling it short-- first thing tomorrow. As for my longs, I will give the market a chance to rebound. However, should it fail, I will draw down my positions and add to my shorts-- in order to hedge and lick my wounds.
Comments:
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yeah but we peanuts in the gallery appreciate hearing from your understated human side while we contemplate our amazing losses...;)
BLDP, that perennial unearner, is defluffing even as we speak. UTSI is crumbling hard now, I'll short more if it bounces tomorrow. SIRF... well I won't bring it up again. I think WFMI is a short because long-term holders don't think it's a buy here. GPS moved convincingly under 50dma on large volume - like, sure, they're gonna get bought tomorrow.
And every one of my longs would've been a great short today.
BLDP, that perennial unearner, is defluffing even as we speak. UTSI is crumbling hard now, I'll short more if it bounces tomorrow. SIRF... well I won't bring it up again. I think WFMI is a short because long-term holders don't think it's a buy here. GPS moved convincingly under 50dma on large volume - like, sure, they're gonna get bought tomorrow.
And every one of my longs would've been a great short today.
# posted by 
: 5:17 PM
: 5:17 PM 
WFMI is not a short. The talk by the CEO last month was purely to talk down the numbers for next Q. Then they will hit your gut with a hugh earning number. It will go back to 80 by Feb 07'
# posted by : 6:05 PM
: 6:05 PM
Today was a shitty day, with the exception of about two positions my holdings were painted in red. I think the market will see some jovial correction in the coming months. I agree with your sentiment towards the retailers, and look forward to finding some nice values in Q1 after the holiday season comes up short.
The market has had a ridiculous runup in the past few months, and finding a decent stock for the money has become almost impossible. As for me, I won't even look at anything with a p/e over 10 and next I look at yearly performance vs the S&P, if the bitch isn't close to flat I'm moving on. It seems every stock I've looked at is up 75% ytd -no bargain there.
The only potential bargains I can find are BXC, CFBK and CLMT with BXC being slightly riske' and CLMT being a little overpriced if not for the div.
Happy [belated] Thanksgiving Broker!
The market has had a ridiculous runup in the past few months, and finding a decent stock for the money has become almost impossible. As for me, I won't even look at anything with a p/e over 10 and next I look at yearly performance vs the S&P, if the bitch isn't close to flat I'm moving on. It seems every stock I've looked at is up 75% ytd -no bargain there.
The only potential bargains I can find are BXC, CFBK and CLMT with BXC being slightly riske' and CLMT being a little overpriced if not for the div.
Happy [belated] Thanksgiving Broker!
# posted by : 6:08 PM
: 6:08 PM
I really think this downturn could be pretty big. Last May when the dollar was getting hit, the market had a tough time. Overseas markets are looking for a reason to sell off, esp Japan. I bet we gap down big tomorrow.
# posted by : 6:23 PM
: 6:23 PM
Last May we were fighting the fed and 100$ oil, now were fighting BS. Broker cutting and running from SNDK on a 5% dip when the markets been up 50/55 days. Funny shit.
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# posted by : 8:53 PM
: 8:53 PM << Home
