Wednesday, November 25, 2009
Jobless Claims 466,000
That is the number that will get the bulls coming out in droves. Now that we've got job losses under control, what else is there to worry about? Plus its Thanksgiving holiday. A rally is a given. Isn't it? Well, I am going to be fading this happiness ahead of Thanksgiving, I see poor risk reward on the long side at 1110. The ducks are quacking and I am going to feed them. Michigan consumer confidence and new home sales are also due about 30 minutes after the open. We have the dollar weakening again, and gold squeezing higher again. This perpetual money machine of weak dollar and higher asset prices is starting to reach a crescendo, I don't see this lasting much longer.
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3 comments:
Wzzzup... is the market open on Friday?
Yo man.
I bought TAMB at 59 cents last week.
Today it's at 1.45.
Problem is, I sold it all at 88 cents.
In your opinion, do you think the money is made in the waiting thing really works?
For instance, I still made 50% gain. I know that if I tried to wait on all of my gains, more than half the time, I would end up breaking even because stocks go back down to where the move started and the 25%+ gains evaporate.
You think taking these solid gains repeatedly makes more money in the long run versus trying to be a pig and make 100% gains such as TAMB?
Or do you think stocks like TAMB are a more less than often occurrence?
I think waiting is better. You should probably wait at least a couple more days than you are currently waiting. Yes markets are open Friday. Today's trading looks totally manipulated to me with the dollar rocketing higher and gold going up again. We are topping here.
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