It's a short. The problem is you need a stop which as we know does not work. I am doing a few just for fun. I remember during the internet craze SNE which I owned, every day was up the limit. First day it did not I sold after which it crashed and burned. Sold at 85 been buying under 20 a few times since.
This is going much higher. Because why should it? Notice EWZ finally topped 30. As long as news is bad this will continue. The next Brazil is UK. Buy the banks and the Pound.
Buy bcs hsbc lyg rbs. Fxb. Brexit is good as the bureaucracy in Brussels is like the Democrat Party on steroids. A semi communist bunch of Obama like busybodies making war on property rights and importing the lowest type of #$%$. Raping murdering religious fanatics impossible to assimilate.
I really loaded up on amzn. Short. Violated my rule of only a bit for entertainement. 703 714 718 725 728. Wish me luck. Will cover at 760. I really am obsessed with this. Always a bad idea. FB is also a turkey but there my position is less.
Sentiment: Strong Sell
I bought pound fxb at 1.38 twice a few days ago when brexit looked likely. It went to 144 dipped to 143 and then I sold because remaine looked lIke a done deal. A good thing. Will buy a bit tomorrow. But I am scared. Bought loads of British and European banks and those I did not sell. The yen fxy I have since below 80 and sold 20% same time as pound. Glad I still hold the 80%. What hurts I sold all gold and gold stocks same time too.
A classic case of a stock that is so over..... I mean, it's got everything. Very much like Disney last year. Ofcourse it's nothing but a guess. Still, I am comfortable with my position.
Sentiment: Strong Sell
This was a great buy last week with all the other European/British banks. Got good prices. Also ofcourse the Pound which I sold yesterday because Brexit won't happen. Always do what makes no sense. 8n markets.
Just because a stock is over valued does not mean it can't get more so. What does it mean overvalued? Totally subjective. I am short but that's because everybody is long. FB same. Plus Zuckerberg is an arrogant twit. A genius, no question. In some ways. Only.
I saw him in person. Great performer. One of the pioneers of contrary opinion. But his record was bad. Because the obv method does not work. It makes you buy when there is buying. You need to buy when there is persistent heavy selling.