Tuesday, August 9, 2011

The Day ahead --- Aug. 9th. Fed Day

After today's sell off, tomorrow will be in interesting day as the Fed Day Trade, which has generally been positive, takes effect.  On top of that, after today's big selloff, there will be a battle between people "getting out why I can" and the late to the party short sellers, and those looking to pick up stocks on the cheap in anticipation of a snap-back rally.  No matter what the long term outlook or sentiment of the economy is, barring a full blown collapse, there will be a relief really from these oversold conditions.  It's going to be choppy for some time, so it'll be important to be nimble, set stops, and take profits when price targets get hit.  If you're the gambling type, playing the FAZ/FAS, TNA/TZA trades will be more fun that anything you can do in Vegas.

Late post for me tonight, after the market closed I went for a run and decided to do another type of gambling.  First, driving through a severe storm that produced some funnel clouds.....I got some great pictures and had to pull off the road as the wall cloud was passing the HWY just a couple hundred meters ahead.  Then hit the casino.  After a day my accounts were pretty much flat, i feel like I missed out on the real fun...but that's what positioning long and short does...i may have not hit the home run on this sell off because I held onto my NKE and BWLD holdings going into this week, but on the same token, I didn't lose anything either!  I bet a lot of people wish they could say that today!

2 comments:

  1. You get any video of those funnel clouds?

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  2. I got some video's from my car while driving...i have to look at the video's tonight. Didn't get one of the wall cloud crossing the road...it wasn't that tight (no real rotation) and I was looking for other ones.

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