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Thread: Get out of your long positions!

  1. #1
    Big Ben is offline
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    Get out of your long positions!

    Markets are going way lower. We could easily test 9200 and then possibly 8500 on the dow. Buy and hold has been transformed into buy and rot. If you have gains lock them in or at least shave shares. If your only down a few percentage, take your cash and live with the idea that your purchase of that stock was a "bad trade"...ie your short term catalyst for buying it was wrong. Stocks are going to get way cheaper soon and valuations will start to look weird. Don't fall for the valuation trap! I have been smashing this market all over the ups and downs...hitting head fakes out of the park.

    Did anyone see Cramer last Friday? Great show. He was all over it, his tone, his demeanor, he knows this market is going to get cheaper and he had to say it, even though it was killing him inside, you could see the pain in his face, I must note I think Cramer is a babbling stock pumping idiot 75 percent of the time, the other 25 percent he is genius. He beat the market for a boat load of years and not by some small percent. He called the Asia/aus sell off at six on Friday, stating on Sunday night they would be selling big time, he called it a 12 hour lead on getting out of this horrible market. Of course the Chinese and Aussies were leaving in droves and we try to buck the trend in the am? We are succeeding, if thats what you call it. Europe is 90 percent red and I don't think they will finish in the green. Stocks are risky right now, all of them, risk appetite is gone and the smart people are leaving the table with some really nice gains in their hands and will live to fight another day. DYODD.

    As for siri, .82 is possible, depending on how fast it gets through .86, I might nibble at .86. Still dead money but I don't play the power ball so why not buy some rub offs, lol.

    As for BP, they might go to zero and they should. They ruined the Gulf, nuff said? It never helps to have the MM running your board room. Everyone talking about their dividend getting cut and it should get cut, wtf, wtfau talking about, w country are we in? If I was holding their shares and people start talking about yanking my dividend, I wait for the next dividend and nice pop if it comes and get out of the way. I love seeing their stock slide, it should. I also love seeing GS slide and it will right through 140 and the next support level is way down. Got to run tons of foreclosures to tend to, I knocked off 18 work orders yesterday in Charleston, Mt P, Johns, James, Folly, N chuck, and I had one smack dab in the middle of the hood. Thank god it was 98 degrees, not to many people outside when its that hot.

    DoomsDay
    DennisDixon
    DD

    Be careful this is a very tricky moment.
    FAZ, FXP have been rocking. GL.

  2. #2
    Big Ben is offline
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    Asia was green last night and Europe is all red. Don't fall into the trap. Nothing has changed, appetite for risk is gone, move some shares into the selling block especially if you get a nice morning pop. If you can stomach some risk pick off some FAZ on a nice down swing or FXP they both move inverse to the market, which is moving higher as I type. The shorts have also turned back to an up trend, 17 and 44 look to be a base line for todays action. If they trend lower grab some you'll thank me in a few weeks. I picked off a nice chunk of FAZ between 11.50-12 ish and those shares are cruising. I also think today is a head fake, start green get people to think the bulls are back and by 10 they have taken your head off. GL, I have to focus on my graphs, I am shaving shares into strength on both FAZ and FXP.

    Dennis Dixon
    Double Dip
    I want to be the first person to say we are going into a depression not just a dd recession, yes its that bad....no jobs...gov stimulus almost gone...a shadow foreclosure market thats enormous...becareful..and gl.

    I just checked the markets and rally is already fading, get short, get cash, live to fight another day....the last three "corrections" were more like portfolio smashers than corrections...don't be the one person left holding the bag.

    Rally is over, going lower today, all markets going lower today.

  3. #3
    jonpluc@aol.com is offline
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    Quote Originally Posted by Big Ben View Post
    Asia was green last night and Europe is all red. Don't fall into the trap. N
    Rally is over, going lower today, all markets going lower today.
    Is now the right time to point out the market is up 120 points?

  4. #4
    Big Ben is offline
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    Art Kashin.....1040 held in the s and p....might see a 1-2 percent rally before the slide returns...payroll weakness...housing weakness..plenty of other catalysts that could lead the markets lower...stick with cash.

    Sold 200 FAZ at 18, if it falls below 16 today feel free to start a position or continue to add if you already have one.

    FXP is 42 if it falls below, which it will, look to enter in the 40-41 range. Both of these stocks will rocket back up when the bears take control.

    If S and p goes to 1074 start to put short positions on. Its game time folks.
    Lots of easy money out there don't be stupid you moron! Stern. Side note I think siri could go back to .5 if Stern quits and after listening to him yesterday it does not look good. GL

    DD

  5. #5
    Big Ben is offline
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    230 shares of FAZ, 16.4...the low this morning was 16.1. This stock want to go higher. The graph is telling the story, I have watched tick by tick, it might shoot higher by days end, the markets are weak. We could easily go red on all indicies. GL

  6. #6
    Big Ben is offline
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    Sold 20 of SH, picked up at 49.5, took the proceeds and picked off 70 more of FAZ at 15.99...looks like the low was 15.9. Stock is moving higher now, not sure where it will end but if the market gives back some of the early gains it should move higher by days end. If you can wait a few days it will be heading back toward 18. GL

    DD
    Making moves baby!

  7. #7
    Big Ben is offline
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    Euro is up against dollar, futures are pointing to much higher open..use this pop to sell into the strength...especially if you own BP..up 12 percent pre market...take that and run...30-40 percent chance BP goes bankrupt, sweet. They might have to pay for anyone and everyone who is affected by the oil, lol, that could mean a waitress in Florida might get paid for six months because no one is traveling to the coast. Amazing how fast the mighty can fall. The dividend is history and will be suspended permanently, that is going to jack off tons of people, tons. I have buddy who works on a rig in the gulf and his company was contracted by BP to go to ground zero...I should get some good scoop soon. He usually works two weeks on and two weeks off, he should be coming back soon.

    Markets are very strong on the open...don't fall for the trap..cash out on a nice pop...FAZ is near 16 and sliding...wait for a level off and get on board!

    FXP is near 40..if it continues lower get some..it could reverse by days end. These stocks move so much that you can make some cash, if your into that, some people on here on not big fans of cash...they like paper gains...lol.

    GL
    Double Dip Depression
    DDD

  8. #8
    Big Ben is offline
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    Huge rally today is fading already....sell into the strength! Its short covering nothing more. If we give it all back in the next few days I would not be surprised. The rally is fading already, wow.

    FAZ is a screaming buy at 15.75. Make some moves people, the market is giving away free money, take some.

    GL
    25 grass recuts on deck for the day got to go.

    DDD

  9. #9
    SiriuslyLong is offline
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    Quote Originally Posted by Big Ben View Post
    Huge rally today is fading already....sell into the strength! Its short covering nothing more. If we give it all back in the next few days I would not be surprised. The rally is fading already, wow.

    FAZ is a screaming buy at 15.75. Make some moves people, the market is giving away free money, take some.

    GL
    25 grass recuts on deck for the day got to go.

    DDD
    Went short today on SPXU in a semi big way. And the rally hasn't faded yet. I'm counting on a "sell" Friday.

  10. #10
    SiriuslyLong is offline
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    Well DD - the market gained during the day.

    We'll see what tomorrow brings.

  11. Ad Fairy Senior Member
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