So I sold my QID, Thursday morning at at average of 51.225 and bought most back in the afternoon at $50.50, followed by adding a little more at $40.90 today. I'm still undeterred from my downside bias right now. Here are a few reasons why...
1) Options expiration week always has a history of cooky trading. Few would argue that this week, the trading was quite cooky.
2) It is my belief that a great deal of buying right here is short covering by the same idiots that thought it would be great to short in the early march panic. Seeing how we're approaching the feb. highs it only makes sense for them to cover now.
3) The CNBC fucktardness meter is showing an extreme bullish reading. Seriously, the best time to sell/short is when CNBC makes it seem like everyone long the market should place their order for a shiny new maranello. Vice versa, best time to buy is when the station creates the panic of a looming nuclear holocaust ahead.
4) Speaking of sentiment, I've been hearing chatter from my non investor (on a day to day basis) friends about how good the market is doing. When the general public starts noticing, an "oh oh" could be ahead.
let's see if next week changes my mind.
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6 comments:
These are the ramblings of a madman and a novice investor with no balls. By the way, please define "cooky" wtf is that? Give your head a shake.
go buy some RIMM asshole!
I did. Is that the best you can come up with? You've lost your touch.
well you are a sensitive little cry baby so I don't want to make you whine and cry again...some people you just need to walk on egg shells with.
also you are clearly color blind & retarded based on your blog design choices I really don't want to make fun of those that took the short bus to school.
SDB, you left some good comments on my blog. Thanks for those.
However, I've got to say that I think you've been hanging out with snoopy for too long.
buy the market then, we'll see who's right by may 10th.
bitches :-)
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