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Friedman Industries, Incorporated Message Board

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  • stockteam1 stockteam1 Sep 13, 2012 4:14 PM Flag

    BAILING!

    yes I was wrong yesterday but never expected the helicopter to drop sooo much money on the market. Unfortunately I was at a med appt. throughout the 200 point move but in keeping with my bearish outlook this morning I replaced the FRD dollars with GLD prior to market opening and lucked out.

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    • I have been putting off being enough of a committed pessimist to buy GLD. I don't hold much FRD but did lighten up on some AP trading shares today. AP MB is where I found out about FRD. In May when GLD was at 160 I almost started a position. Then it went lower and now it's up a bit. The more noone gets their act together (Us, the Europeans, and the Chinese) the smarter it looks.

      My concern for some time has been inflation. But I can't seem to pull the trigger on the GLD.

      Never sell short either. Closest I come is writing covered calls occasionally.

      I may average down on FRD some given the opportunity.

      Today's bounce after Ben's announcement is looking like it may not even last through tomorrow.

 
FRD
6.19+0.06(+0.98%)Apr 29 4:00 PMEDT