It all looks good this morning. I'm selling into it.
It's been a good run, almost eight months since January 21.
My take (and it's just my take) is that I'll be able to 'reload' at lower prices prior to year end. It's kind of like walking away from the craps table near the tail end of a long streak-> it's likely to continue for awhile, but I no longer like the odds.
I hope your right for my sake. How was your YTD?
ReplyDeleteI'd have to back out new contributions and stuff, but close to +30%.
ReplyDeleteNo, make that +30% from the January lows. I'd still need to subtract a loss between the first of the year and January 21. So to be conservative let's call it the mid-twenties.
DeleteNice work 2nd! That would be by far one of the few outstanding results I've seen this year.
DeleteGreat job! It's been a rough ride, but you stayed through it all!
DeleteSold half of SORL that I bought in weakness last Sept. as it had almost doubled. Still have my original half position from 2012, nut may sell that too. Stock is really jumping and, even though valuation is still very good, the "china" factor could start knocking down again soon if some issues pop up.
ReplyDeleteNice job on the SORL! Sometimes patience does pay off! I couldn't hold my position in MTL long enough to enjoy the spike...
DeleteNot sure why these type of stocks are finally getting some respect, but good to see.
DeleteSORL seems very legit and I researched it quite a bit and accountants from a European firm (can't remember the name) went and visited the company, so it's no Sino-Forest, if you remember them. But still hard to get a reasonable valuation from investors, so choices are be patient or don't play.
I'm leaning towards selling the rest of it and looking at some of the cheap North American auto parts guys. A lot of them have gotten beaten up and have low valuations now as well, so, if you believe the auto cycle extends, which I do, then probably better to move into one of these with less country risk.
Wow great play 2nd!
ReplyDeleteI decided to follow 2nd_ave -- who knows, the Fed might say something silly tomorrow and the market might flip out. So I sold my last 1/4 of 401K that I held in the emerging market fund LZEMX (purchased about 15% lower, when the emerging markets were collapsing in the Fall), and now I have everything in the Galiard Stable Value Fund -- a strange creature that grows slightly but steadily regardless of anything that happens.
ReplyDeleteTo counter this "negativity":
ReplyDeletehttp://www.cnbc.com/2016/09/19/90-chance-stocks-see-a-year-end-rally-tom-lee.html
In preparation for tomorrow's volatility, placed a buy limit order for more BTE at $3.50.
ReplyDeleteLiking this little flag in AAPL.
ReplyDeleteWe did not get any downside volatility, but BTE is still cheap, so I just raised my limit and bought some at $3.80.
ReplyDeleteToday's Fed decision (no change) launches US indexes out of their recent trading range, to the upside. DJIA +170 points heading into the close. EEM (emerging markets) +2.93%. Is that an 'oops' for my decision to cash out on Monday? Maybe. It will take more than today's rally to convince me.
ReplyDeleteDJIA continues to push higher. +142 points near the open. Nasdaq at an all-time high. All bullish developments. I'm happy to admit I was wrong on short-term direction. That's about as much time as I care to spend on 'remorse.' What's next? I believe the market will make it difficult to board, but I also believe the bulls will be tested. It's important to wait for an entry. SPX 2250-2300 is likely. Wait for the setup.
ReplyDeleteAlways good advice to be patient.
DeleteOne thing that I noticed is the move in the SOX. up 46% from lows this year. Thats a helluva move in the short term and would definitely warrant a patient entry. Bigger picture is it looks like its going to head toward those 2000 highs (50% higher)
DeleteI just noticed that the very large position I took on FCX on Sept 12 at $10.55 (when it felt like FCX had already shaken off all passengers and is heading north for good) actually put me into margin by a little bit. So today I sold about 15% of that position at $11.02, just to get out of margin. Next, I placed a sell limit order at $4.5 for the FCX calls I picked up at $3.5 when it was trading at $9.80 last week. And then I placed a sell limit at $12 for 1/4 of my current FCX shares.
ReplyDeleteAlso, I placed a sell limit order at $4.5 for the BTE shares I picked up yesterday at $3.80, and at $5 for the shares I picked up at $4.5.
ENPH. Yep.
ReplyDeleteIf you like break-outs, GPRO is about a pretty as it gets.
ReplyDelete