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Enjoying A Year-End Rally
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Posting Date: 12/21/07 • No changes to current positions To be honest, I thought the Fed would cut 50-basis points on the 11th. We only got 25. The market went down big upon the news. And I lost lots of money along with that decline. It's only about 1.5 weeks away from the end of the Open. In terms of trading days, there are only four left. I have sold most of URZ and all of CCJ on 12/19. I feel most of my positions are OK to go through the next four trading days. So I'm not making any changes. I still believe trading is the way to go for now so I will use remaining cash to do so. Candidates include GOOG, BIDU, or FSLR because they have big day swing. Though I have been advocating trading, I have not had the time to do so. If I have more time in the next four trading days, I will give it a shot. My performance is not so good. My NAV is getting closer and closer to $10. I'm not tracking other contenders' performance but gut feel says the majority should have the same decline as mine. The professionals in MSN Money Strategy Lab also are just doing so-so so I don't feel too bad about my performance. I do feel bad, however, about my inability to take advantage of situations in the last decline that started October 31. The lost opportunities represent lessons learned. I believe big money will start buying, especially the tech stocks. The painful mid-December drop was caused by big money trying to protect their single-digit gain. Now it's their year-end push to squeeze out whatever gain they can get from the market, plus to show that they have the right stocks in their portfolio. Therefore, the right move is to buy or to trade on the long side. I plan to publish my last blog next week around 12/27. If you're reading my blog, I wish you a Merry Christmas. Take care. | ||
Comments (2)
Charlie, our SLO friend . Thanks for your posts ,I know many are reading them. This contest helped us all learn from one another.
Merry Christmas to you and your family,
Cheers, DuffBeer
Posted by | December 21, 2007 9:40 AM
Charles,
I think the FED has realized what a 'Paper Tiger' it is now - I thought they would lower 50 basis points last time - shoot their entire wad, so to speak, all @ once. They just split it into Part 1 & Part 2. The Rubber has hit the road & the days of the High Life on Debt and Easy Money are over. It's now Piper-Paying Time. The rally is a last Blast of Cheap Thrills. The 'bloody' Morning after is soon upon U.S. ..
Hope we don't drag the rest of the world down the tubes with us. There's ALWAYS a Bull Market somewhere.
MERRY CHRISTMAS to you & Yours,
Don Lee Ferk ( aka VikikgWarrior )
Posted by don ferk | December 21, 2007 10:18 AM