Opening up small position here.
I do not believe for a moment that this rally was merited. It is nothing more than an emotional outburst. The economic data is irrefutable and I have seen far too many fake rallies to be shaken out by this one.
Still, I will open a small position and be prepared to average down
Good Luck to all
You know something, I am not making excuses but we really are in uncharted waters. The moves down and up, the government intervention, there was no precedence for much of it and when you have no point of reference you can get 'spooked' out of your positions.
I hate to say it, but I lacked the 'Brass Balls' to make the big gains... and as counter intuitive as this sounds I actually used my head too much, to the point where I thought myself right out of my positions. A person who had a basic grasp of the direction of the market, didn't watch or think too much about his or her position would do much better than those of us analyzing every detail for hours on end.
Anyways, you live and learn. I won't be shaken out again.
remember also how we all worried if these (skf and such) would all blow due to counter p risk or the govt just declaring this swap product ILLEGAL
i'm happy with 10 or so handles here and there with SRS
Interesting, last I remember everyone was laughing at him after his getting overly emotional about the Fed knowing nothing about what was happening in the economy.
As far as I am concerned that was the greatest call anyone at that time made.
easy to bash him because he makes it easy with all those bad calls.and bottom calls....now he learned his lesson so he's cautions not looking to make a fool out of himself anymore,''TOO LATE''.now the turd tells you to sell when you should be getting ready to start buying.he was saying buy at dow 14000,13000,12000,11000,10000,9000 and only now got brearish...
$137.35 in After hours...
I had a bid end of day at $132 but did not go through. Hate paying $137, might wait for morning in the hope the rally will continue and I can get SRS for a better price.
Futures down. I missed my bid by only a few points. Wasn't willing to pay 3 points more than closing price. Now, looks like its poised to surge back up.
I have stated on this board that I did not buy into this rally. Not one bit. It was based on no fundamentals but rather some technical point which people felt the markets would bounce. Hog wash. Such movements in my opinion are nothing more than a sucker rally.
Time will tell how this turns out. I do very much hope the markets rally so I can buy SRS for a cheaper price.