Frankly I don't really want to sell any merchandise - we can see whenever the market even stays stable for 3 hours these stocks are running - we were up nearly 1.5% this AM as the market was down 1%. So selling now is simply guessing when the market will turn and I have no idea. I continue to believe we need to have 1 gut wrenching fall from here (maybe by 4 Pm today) and then open down on Monday and maybe we finally have that elusive bottom. Almost every day the Invisible Hand keeps buying those darn pre market futures and we can never get one of those whoosh down mornings where you wake up, and want to hide under the bed. Maybe Monday they will allow us to pull off the bandaid quickly instead of slowly.
Love the stocks; hate the market - not gonna sell the merchandise everyone else wants in their portfolio.
EDIT: From +1.5% to -1.0% in a manner of 90 minutes :) Fun. If only our stocks traded in a vacuum.
3 comments:
I'm in the same camp, and actually ready to add more. My hardest decision is what the hell to do with my UYG. God, why do a torture myself with worst of breed? im thinking maybe dump half today, and half next weed. who knows? The VIX is moving again. Finally, so i'm encouraged. But I wouldnt call it a panic spike. I'm thinking because so many people are watching the VIX, perhaps it has to go to 40.
It is sort of amazing how complacent the market is. The PPT is creating money supply at a rate of 20% (to boot) so maybe its flooding into the market aside from just futures.
I'd like to see the nat gas complex fall to signal a bottom - it really never did, just a sorta correction. However, at this point "correcting" would mean to get back to where they were Wednesday when I SHOULD OF bought. Damn.
There is clearly less fear of the 'global growth' is dead rhetoric this time around, compared to Jan's decline. In Jan, there was a lot of uncertainty as to the impact the US would have on the global economy. I think this time, it's actually worse than in Jan, but yet the market not reacting that way, having been burnt by selling in the last round.
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