generally speaking Tully you are right. What is wrong:
- your timing
- your stock choice
Time is slowly changing against longs. Why?
Because all this market "celebration" is artificially designed hype. The same as holding solar stocks down - also artificially designed pattern. Not sure if/when the markets tank solar won't follow with a double speed. That is why trading is a must exactly opposite to what Cramer said.
If it were not a case GS current major source of income would not been a day trading.
I reply to you since I have respect for you and think you are worth my time. In terms of timing--that depends what you call "timing"--day trading TSL, yes you are right. That would make me wrong. BUT I am NOT day trading TSL. I have no clue about its intraday moves except for my hourly peak at the daily chart. I am selling TSL based on the weekly chart which tells me that I am right on time. As TSL approaches highs I will sell more and more. This stock is not breaking out to new highs and stay there is what I am betting on the macro level. If TSL breaks out and FINALLY becomes a $30+ stock then I will be the first to admit that I was WRONG. So it is too premature to call me wrong on "timing". My timing is TSL will see a $15 handle before it sees a high 30+ almost $40 handle. That is all.
In terms of my "choice of stock". I picked the perfect stock to short at the highs and buy hard at hand over fist at the lows--solar. Solar is dominated--trust me on this via my New York sources--by hedge fund playboys. These are fast money guys who hit hard, fast, and strong. They take no prisoners. That is why this stock gets wackamoled every 3 months. TSL is not Protecter and Gample or Con Edison. Now if you told me that I picked Berkshire Hathaway B shares to short, then I would be playing with fire since the hands that hold that are very strong. Of which I am very long --Berk Bs--long term hold for me. Talk soon.