Wednesday, October 26, 2011

Pressed for Time

It's not been a great week so far, mostly due to things not related to the blog or markets. You know, real life and stuff. Short on time so just a few notes and then I am going to enjoy some quiet time and read stuff.

I sold out all three of my stock picks this morning. Yes, a couple hours before the crazy run up. I know, weak! AVA (-1%), TX (+1%), and SATS (-2.5%) were the final tallies. All three were not too close to my set stops, but market was looking ugly in the morning and I was going to be away most of the day and did not want to deal with some kind of wash out when I got back in the afternoon. Gun shy I guess.

Tomorrow is more Euro headlines and some GDP numbers. I am screening tonight to see what's interesting.

Have a good night.


David Batista said...

Oh, one of those week, eh? Yeah, I know how it goes, buddy. Hang in there . . . and I hope all gets straightened out soon, and for the better.

GawainsGhost said...

Most people think this song is an original by Great White. You know, one of those hair bands from the 80s. But the first is always the best. And covers are always, well, covers.

Ian Hunter and Mick Ronson, now that's rock and roll.

Gun shy? No, I don't think so. But then my idea of gun control is hitting what you aim at.

You really need to stop doing this to yourself, GYC. Playing the markets, I mean. The only real investment is in fundamentals, not charts and screens.

The secret to having money is in protecting it. Once an investment turns sour, dump it.

I'm about halfway through Reckless Endangerment, and I have to tell you this book reads like a murder mystery. Econned, by Yves Smith, was mostly about finance and economic theory, or the inherent flaws therein. But she's a businesswoman, not a journalist like Gretchen Morgenson, who knows how to tell a story.

This book has really warped my mind.

The Sovereign Bohemian said...

Thanks for posting G man

Mr Slippery said...

I had been short on Tuesday, and covered on Wednesday with a small profit. After the big spike up this morning, I shorted again, then closed out within an hour wiping out my profit from Tuesday. Doh!

I am very skeptical of the latest Euro "fix". It doesn't pencil out for me, but timing is key and mine was off today.

I started adding a little to the gold stack last week and added some paper gold this morning. I am trying to keep an open mind about whether the gold bull is over, but my actions give away my bias.

Utilities lagged early in the day, but picked up steam as the bulls trampled everything. The next few months will be exciting!