Well, after the close today I think I will make a nice pitcher of Ouzotinis and sit down and contemplate the state of the world financial markets as of Monday morning. Next week should be very interesting!
Funny thing about those little spikes like Isis had yesterday. You never know if they are being pushed from the long side or from somebody pushing the bid from the short side. Such is life!
I sell and buy all the time. Since $10.00 I have been day trading Isis. Today I am short. I will probably stay on the short side and take some pain. Isis is part of a hedged portfolio so I am trading it a bit differently than a straight investor would. Nothing against Isis, but I think it is getting ahead of itself. I could be wrong. It wouldn't be the first time.
Have a good day!!!!
Thats the trick with any stock. HGSI went from $2. to $212 and back to $2. again. In the last run I got in at 2 sold at 10 and it went to $28. and then back to 6 before recovering at 13.
I should ad that I am hugely overweight JPM and it is raising havoc with risk management. Much was purchased under book and it will pay a good dividend while I wait. This is not the Morgan Guaranty Trust of my youth, but it is as good a bank as you will find today and the only way this bank will collapse long term is if the world financial markets collapse. It will be the last international money center USA bank standing!
What do I know.....not much!
This is a very difficult market for me to navigate right now. With respect to Isis, my best answer would be that I have a small position that can easily be shifted from short to long and back again in the course of "doing business" and that this position is part of a larger risk management system that is hedged as best I can manage, although I have to admit that the hedges have not been working as well as I would have hoped.
I have been spending most of my time managing other portfolio positions particularly JPM, and some energy related positions so I have been spending very little time on ISIS.