Friday, November 19, 2010

Bookkeeping: Long Some BGU and TNA

What can't go down, must go up.... as long as the S&P 500 holds 1192 I must get some more action to the long side as we did a lot of selling this week during the raucous action.  Thus far the test of the 50 day moving average early in the week seems to be holdings and people feel bulletproof as "Magical Monday Morning" approaches.  I bought last Friday for no good reason other than to dump after the 'happy time' in premarket Monday and it worked, so why not.  I spread a 5.5% allocation into these 2 names - triple levered large cap, and triple levered small cap.  Nothing to fear right? Ireland "fixed", Chinese rate hikes don't mean anything and Ben Bernanke rules the world.

(easy as that)

Long TNA/BGU in fund; no personal position


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