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I’d written earlier this week repeatedly about how the hardest trade to make had been no trade at all. Not trading at all was particularly “hard” since we had raised so much cash at the highs just a few days earlier. If we stay with the concept that the
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Sailin down the river in an old canoe, a bunch of and an old tennis shoe. Out of the river all ugly and green, came the biggest old alligator that Ive ever seen! Teeth big and pointy and his eyes were buggin out, contracted the union, put the beggars to
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Investing well is as much about selling as it is buying. Sometimes you have to take profits. Sometimes you have to stop yourself out on a losing position despite your high conviction level.Investing well is as much about selling as it is buying. Sometimes you have to take profits.
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The markets have stabilized, at least intraday here, and the Nasdaq has even climbed into the green for the day. The S&P and DJIA and the market’s breadth just turned fractionally positive too. I bought some more Marvell calls dated out into February 2012 at and around
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Remember during last week’s chat when I wrote: Feet to fire, I’d guess that the market’s probably got 2-5% downside vs. 1-2% upside in the next week or two and then we’ll be back off to the races somewhere starting the second week of August or
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Did I mention ugly? No other way to describe today’s nasty sell off. Everybody and their mother was apparently set up for a big “relief” rally one a “debt deal” was completed. So the market did exactly the opposite and collapsed as the selling fed upon itself. Lucky to
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Yesterday I wrote a piece on here called “The good, the bad, the ugly and otherwise…” Today that piece would be called “The ugly, the ugly, the ugly and the ugly…” Because it is U-G-L-Y-you-ain’t-got-no-alibi ugly out there today. We were luckily raising big cash last week when the
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Here’s a list of my positions, in order from biggest to smallest, after all the selling I did last week and the moves I made yesterday too: Longs – * Sandisk * Google * Cisco * Marvell * Microsoft * Cypress * Nuance * Apple * Corning * Riverbed * Visteon * DBA * Ciena * Adtran Shorts – * Lender Processing Services * Wells Fargo * SLV
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It might be funny if it weren’t just pathetic, but do you remember how a couple weeks ago these idiot Republican/Democrat politicians and the bureaucrats they appoint at the Treasury, Fed et al, were running around the Sunday morning TV circuit warning that the markets would get hit
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The good – Well, the markets are down sharply, but our WFC and other shorts are working for us. Apple is still up and Google was up most of the day until just recently when it ducked into the red now. The bad – The telecom stocks are really under pressure and
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You ever think about how many times you have to cast when you flyfish to catch a monster trout? It’s like that in trading too, isn’t it? You have to cast and cast and hope that everything comes to together and you eventually catch a few big ones,
Last week you said we were going to scale into some of our RVBD calls. I am waiting for an update on when we are going to buy some. Today the stock tanked again by 9% in the morning and looks like its recovering a bit. Is this the right