Friday, January 11, 2008

I Was Wrong!

I thought for sure we would rally today with the news from CountryWide and Washington Mutual, so I loaded up on AAPL & BIDU this morning. I ended up getting stopped out my position in BIDU, but will continue to hold AAPL through Mac World and Earnings. I also bought some more GOOG for the IRA.

Note: AAPL is showing strong support around $170

It is getting harder and harder for me to make money on the long side. All of the money I made so far this year has been from inverse ETF"S, such as DXD, and put positions (solar). Why get long this market? Everyday it gets worse, and I keep saying we have to bounce at some point. Then I read this, and it all made sense!

Contest Leader: Market Monk. Is it a surprise his pick is short?

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