The chances of it going back to .68 are very good. Look at todays action, if we go out on a downer I would have nailed the head fake, no? FAZ bounced off 19ish a few times and now look at it was up to 19.90...same day..nice pop..in and out. As for SIRI, come on man! Wasn't it up 10% today at one point? If the move up was so obvious, was the retreat unthinkable, shawshank? I stand by my strategy, shave shares, especially when the moves come so fast and so steep. Would it not have been nice to realize a gain this morning and pick off the same shares in the red this afternoon? If the entire market finishes weak we might be in the .7s by days end. I am a big fan of protecting gains, most on here think the end game will justify not cashing out, I disagree respectfully. Good Luck, god knows we need it in this inflated economy and market.
Big Ben
Some goof ball on CNBC just said his firm thinks the SP500 index will be 1250-1300 by spring. Wow how disconnected is this firm, I am glad I control my own money, I don't trust Hedges or Mutuals funds anymore.
This might sound crazy but we could see dow 9999 by days end, once the 10 handle is broken lookout...the exits are going to get tight. Does anyone give credence to the GDP number, I hope not, 2/3 of it is inventory shifts/gov stimulus. We are sliding and sliding fast. Get to cash...its coming in the air tonight.
Big Ben
Sold 200 shares of FXP, up 16% in the short term, I will use this money to wait on FAZ...when it gets anywhere near 19 I will pick off 100 shares. My average cost per share on FAZ is 21.5. The markets are cooling off, its time to take a short position and make money on the ride down. Good luck, I would not post this horse dung if it was not working.
Big Ben
Jan was really bad, get to cash.
And SXM just closed UP 2 cents. Up is good for me. I just had to say that.
Did you sell your short yet Ben?
I see nothing but good news and a positive public environment up to the CC. I will just wait it out.The CC will give us the overall future short term direction, but also keep an eye on any moves Liberty makes for crossover synergies which could impact the sp.
imho
vaporgold
Anyone looking to go short, FAZ and FXP are trending down, slow steady decrease, actually kind of pretty, but anyway...last week FAZ hit resistance before 19 and spiked to 20ish extremely fast. I am picking off 100 today as low as I can. Good luck, FXP in my vHO is a screaming buy anywhere under 11. Good luck happy hunting.
Big Ben
I am watching some charts and everything appears to be holding steady, but I would watch if today ends red. Asia was flat to down, Europe is flat to up, if we open up and finish down, we should carry Europe down in their pm session. This in turn could lead to a rocky open in China/Aus tonight. Just a guess but I have been watching this trend for quite sometime. Good luck.
Big Ben