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.
Forgot. Other losses are Greece and shippers. The latter are amazing. Year after year. Why they don't just declare bankruptcy is beyond me. Maybe they make their money by taking prices up and then selling short. However, with the rise in commodities, some will probably make it. Which does not excuse the losses. And the lessons? There are none in markets. Else we would all be rich.
Oops. Stop losses. The dumbest thing ever. To think, that one can say, well, I made a mistake. Who the hell knows anything? So how is it possible to reach conclusions? The arrogance is breathtaking. Now, I am not saying that stop losses do not have their use. Check my DRYS posts. I saw the 'SUPPORT' at 1.30. That is where traders bought and ofcourse the market makers shorted. So then at 1.13 I took a chance. As the stops were all hit by the falling knife.
A few days ago the Dow was down 2 percent from its all time high. And me too. Which is amazing considering I was caught by a black swan event. The collapse of energy. I recovered because I am a humble long term small time bag holder. Which permits averaging down. For a very long time everything I touched collapsed. Like pbr vale sgtzy ewz rsx sid mt cx sim ... the list is endless. But they came back. Then, I started having my picks go up right away. Eca hal dvn swn chk hl cde gg .... So. Here we are. Coal was a total loss. Almost. Again. Small time bag holding trying to catch falling knives. There is nothing else. Realizing that I am a worm who knows nothing. Now I am into failing retail and British banks. Sold half my gold yesterday and day before because the smart money is buying. I hoped to hold for the long term but they spoiled it for me.
I am short FB too. How can you be in markets. and not be? As for Brexit, I am buying British banks. Because there has been an investor exodus from the market there. Sadly, I have sold half my gold and gold stocks yesterday because the 'smart' money is buying. I was hoping when I bought a few months ago to hold for years.
Kara Swisher. A tech expert from Silicone Valley on CNBC. Problem is, whatever she says has nothing to do with investing. Well, let me revise that. If she and everybody says A then A is wrong. Amazon great retail not as nobody bothers to shop in stores. So AMZN is a short and retail issues like JCP Sears etc are long. They have another guy, Mossberg. Again, whatever he says means nothing.