2018 thus far is 2017 on steroids. Currently running behind, at around half the
YTD average for my benchmarks. There is
an alternative benchmark-> the 60/40 (60% stocks, 40% bonds), for which
FASMX (Fidelity Asset Manager) acts as proxy.
FASMX currently also up +3.5% YTD, compared to +7.37% for VTWSX (world
market).
According to The Fat Pitch-> (i) January 2018 ranks tenth in out-of-the-gate
performance. So not unprecedented. (ii) In addition, eight of the previous nine
January rockets ended the full year higher.
So also not unsustainable.
I need to keep the above in mind when planning my catch up
trading.
I think I have sufficiently proved my point with RIOT, so I just closed at $15.70 the short I opened at $22.90. Bitcoin is making a base at 11000 for a number of days now, so it might rally from here.
ReplyDeleteBoth OSTK and KEM faked me out...
ReplyDeletePlaced a buy limit order for more NMM at $2.10. It has a beautiful 2-year chart, moving from the lower left of my screen to the upper right. This is the kind of stock Jesse said we should buy. I am thinking of heavily accumulating NMM on any further pullback.
ReplyDeleteMike -- do you still like NMM? I saw some articles saying that the shipping sector has turned the corner and is starting to rebound. Why are the analysts predicting a lower EPS for NMM in 2019 than in 2018?
http://www.nasdaq.com/symbol/nmm/earnings-forecast
Both OSTK and KEM are now below where I sold them on Friday, so I am withdrawing my complains.
ReplyDeleteRIOT has dropped today below my $14 target -- closed my short one day too soon...
Nice trade on RIOT, David.
ReplyDeleteNow I can say that I have participated in the Bitcoin mania :)
DeleteSee comments below re bitcoin.
DeleteUSO is back to its lower uptrend line on a three-month chart. Just bought some more BTE at 3.03 and HLX at 7.47.
ReplyDeleteModest declines in US indexes following 'hawkish' interpretations of today's Fedspeak.
ReplyDeleteThe SPX now trading @ 2815. The all-time high set last week was 2873. So about a -2% pullback. That may be all we get. I don't really know.
My attempts to 'catch up' to the global indexes fell flat, as declines in the energy sector outpaced that of the broader market.
I agree with Futia re a trading range between 2800 and 2880 for a while before it's able to break to new highs. It may fall below 2800, or it may not. I just think too many fund managers are in the same position I'm in-> behind and trying to catch up. This should keep prices within the aforementioned 80-point range. Since I have no insight into when the decline stops (today will be Day 3 if it remains red), I'm happy with re-entry at this level (ie, 2815 is 'close enough').
Reopening VTWSX (world market) at the close.
Let me go back to the best explanation I've heard yet for the January rocket-> the full impact of Trump's Tax Plan is so big (and the ramifications so complex and difficult to analyze) that it will take longer than a few weeks to fully price it in. At what point do I think it gets priced in? Hey, I'm even less qualified to answer that question, but from a purely instinctive perspective I'm pretty confident it will be >3000. Let's say somewhere between SPX 3100 and 3200.
In the meantime, if you've been looking for an easier way to buy/sell bitcoin, look no further than SQ (Square)!
https://finance.yahoo.com/news/square-apos-customers-now-buy-194700075.html
Instead of taking a large position in an NMM in one shot, I will just keep scaling in aggressively at this level. My buy limit order was triggered today at 2.1. Placed another buy limit order at 2. Placed a sell limit order at 2.2. Turning on the money pump!
ReplyDeleteUSO has rebounded from its recent low, making it yet another higher low over the past 6 months. A higher high is likely to follow. XOP has not rebounded from its recent low at all, so I just purchased some at $37.03.
ReplyDeleteIn order to reduce risk in my portfolio, I decided to keep this XOP long term, and on any further upside scale more aggressively out of BTE instead. So I just placed sell limit orders on BTE at $3.25 and $3.5.
DeleteIn case this is the bottom in AKS, placed a buy stop limit order on it at $5.05/$5.07.
ReplyDeleteAdded more XOP at $35.91.
ReplyDeleteWith the DJIA currently off -610 points and likely to post its worst weekly decline in two years, I would say the market is sounding off a little louder than a cymbal!
ReplyDeleteAll positions able to be taken off earlier were taken off. All that remains is clearing VTWSX (world index) at the close. VT (the ETF version) currently -1.8%.
Bitcoin prices dipped briefly below 8000 this morning. No surprise to see OSTK (Overstock) taking a brutal hit-> I traded in and out several times last week in the seventies. I sold a position opened yesterday (around 67) this morning near the open for a loss (around 54 - I take all losses quickly), only to watch it jump back to 67. Why take losses quickly? It's now trading @ 57!
Today's pullback will probably place my portfolio into negative territory for 2018. So what? The goal is to prevent further losses on Monday. My guess is that after thinking things through over the weekend, many investors will return on Monday ready to do the same. I try not to allow 'hope' or 'ego' cloud my thinking.
Hey, we may see another 'V' reversal next week. I'll deal with it then.
My buy stop order for AKS was triggered this morning at 5.05 -- crap... But it seems to be flattening out now, so I just bought some more at 4.77.
ReplyDeletePlaced a sell limit at $5.07 for the latest bunch.
DeleteThe DJIA has reversed off a -1500-point decline. Global markets are an outright buy here, in my opinion. All of January's gains have been given back, and then some.
ReplyDeleteReopening VTWSX (world market) at the close. Reopning BABA (Alibaba) and SQ (Square) here.
(TWMJF [Canopy]) holding its intraday gains, currently @ 20.32. Entry was 17 near the open today. Sorry for the late post, but hey->not always possible.)
The nice uptrending line connecting the lows on XOP over the past 6 months was broken as soon as I took a position in it -- what a luck...
ReplyDeleteBut looking at the 5-year chart, the current level still seems like a good entry. Just placed a buy limit order for more XOP at $33.00
DeleteChanged this order to a buy stop limit at 34.5/34.6
DeleteThe order was triggered. Placed a sell limit at $36.
DeleteJust bought April $51 VXX puts at $12.35
ReplyDeleteThe pattern of previous years has repeated itself: VXX reaches its maximum the day after the decline in S&P stops. Heaven learned this pattern, I kept myself from buying VXX puts during the decline even though their jump in VXX was amazing and clearly unsustainable.
DeleteNow, Panic buying should set in...
DeleteThe DJIA and SPX plunged an additional -1000 points/-100 points at the best possible time (while we were asleep!) in overnight futures trading, which likely sets the lows for the current correction (those numbers would have extended both declines to about -12% from January highs). Based on current prints for VT (the global index), we're now back to January 2 levels. There's a good chance we (successfully) retest yesterday's lows, but if I had to guess, we'll see new all-time highs in 2018 before a major correction. Just my opinion, of course.
ReplyDeleteThere are many positives supporting both the economy and the markets right now. I read a great interview in Barron's over the weekend-> Harry Markowitz (a well-known economist in financial circles) is fully invested in the companies that will be involved in rebuilding Houston, rebuilding Florida, and rebuilding Puerto Rico. Those are decade-long projects. What about the rest of the country? A major overhaul of our infrastructure is needed.
GDX is back to its 1 year support level at 22. Placed buy stop-limit order at 22.20/22.40
ReplyDeleteThe order was triggered this morning at $22.20.
DeleteThe massacre in the oil space continues. XOP has dropped below its November 15th low, while USO is 11% above it. Looking at it from the other side, though, XOP is a much better value right now than it was back then. :)
ReplyDelete2/7/18 around 1230 pm pst:
ReplyDeleteI was hoping for another 'V' bounce, but 2018 is unlikely to be a repeat of 2017. The return of volatility may usher in a return also to more conventional trading patterns. In which case yesterday's 'throwback' rally should lead to a 'retest' of Monday's lows.
With that in mind, I have closed most positions for reasonable gains (BABA [Alibaba} +5%, SQ [Square} +1%) and one position for a spectacular gain (TWMJF [Canopy] closed in early trading for a +42% gain).
VTWSX (the global index) will be closed end of day. Taking a minor hit today, but should net about a +1% gain over two days.
2/8/18 around 312 pm pst:
VTWSX closed off -0.85% @ 30.21 (which was also the closing price on December 27). VEIEX closed off -1.79% @ 29.62 (just below its January 2 closing price).
The good news? I have now caught up to my benchmarks!
Congratulations, 2nd_ave! Now you have finally caught up to the title of this post! :)
DeleteThanks, David!
DeleteVT (global index) currently -2% and back to early December levels. That's good enough for me. At the intraday lows, both VT and the SPX traded about -9% off the January highs, EEM (emerging markets) -11.5% off its January high.
ReplyDeleteIn addtion to reopening BABA (Alibaba) @ 174, SQ (Square) @ 40, EEM (emerging markets) @ 40, and TWMJF (Canopy) @ 21 earlier in the day-> I plan to reopen positions in VTWSX (Global Market) + VEIEX (Emerging Markets) at the close.
XOP is almost back to its summer lows, despite USO being much higher. Just bought some more XOP at $31.78.
ReplyDeleteWill scale out of my total oil positions by selling BTE. Placed sell limits at $2.75, $3, $3.25, $3.5
DeleteAlso, I didn't notice that two days ago my cell limit order for NMM was hit at 2.2 for the shares I purchased at 2.1. Today, my limit order at 2.0 was triggered. Placed a sell limit for half of these shares at 2.1 and half at 2.2.
ReplyDeleteGDX is also back to its 1-year support level with GLD still being much higher and still making higher lows on the 1-year chart. Just sold some June $21 puts on GDX at $1.47.
ReplyDeleteToday's SPX intraday low of 2532.69 is about as close as it gets to a retest of 2529 (the 2529 print was recorded in overnight SPX futures trading earlier this week). Current bid 2596 (or about 2.5% higher). There are no certainties in the market, only probabilities. My take at this point-> so far, so good.
ReplyDeleteNMM hit my sell limit at $2.1 for half of the shares I purchased at $2.0
ReplyDeleteThe SPX is now +5.5% off the intraday low last Friday. That's a snapper. I don't think we've seen the highs for this bounce, but I'm betting it continues from lower levels. In other words, I don't think the 'V' pattern works this time around. It's now more of a trader's market. My take is that the downside is unlikely to accelerate. On the other hand, I wouldn't go so far as to say the worst is behind us.
ReplyDeleteI'll be closing VTWSX (global index) and VEIEX (emerging markets) at the close. A two-day gain of +3% is reasonable. Even more so given that I'm currently 3-4% above my benchmarks.
Even though VXX is now below the level where I bought my first puts on it last week, the puts also became cheaper, so I just bought some more April $51 puts at $9.4
ReplyDeleteHard to believe that VXX will stay above $40 by April...
DeletePicked up some ROYT now at $2.12. In February it announced $0.016 cash distribution, which annualizes to $0.19, which is a 9% dividend yield. Not bad our days, considering that the stock price itself is also very likely to go up from this pullback level...
ReplyDeleteYesterday's 'sell' was basically a waste of time. Sure, the DJIA/SPX dropped -180 points/-19 points early this morning, but both are now modestly in the green. Very normal trading ranges.
ReplyDeleteVT (world index) currently off just a penny.
Both Shanghai and Hong Kong were up +1% overnight. I took advantage of the early weakness and reopened positions in ASHR (China 'A' Shares) + FXI (China 'H' Shares). Added PBR (Petrobras), which has pulled back along with oil prices, @ 12.3x. Still holding TWMJF (Canopy).
Will reopen VTWSX (Vanguard world market) at the close.
I still think we see a retest of recent lows. However, (a) it will be difficult to time, (b) I'm bullish at current levels (VT currently trading at mid-to-late December prices, after all), and (c) I would hate to give up the current +3.5% differential I have relative to VTWSX. Sometimes it's better to avoid being too slick.
2nd_ave -- can you send me an e-mail? The e-mail I had for you in the past is not working now. I'll send you some info about my friend's quant fund, which he had just opened to new investors.
ReplyDeleteAKS hit my sell limit at 5.08 for the shares I purchased at $4.78 during the crash. My next sell limit is at 5.5 for the shares I purchased at 5.05.
ReplyDeleteNMM chose a bad time to sell more stock, when it's shares suffered a large pullback. Still decided to buy more NMM at $1.95 now, and placed a sell limit at $2.1
ReplyDeleteDecided to take profits on the GDX I purchased during the crash at $22.20 by selling March $23 calls against them at $0.80.
ReplyDeleteCutting back.
ReplyDeleteClosing two positions at the open-> ASHR (China 'A' Shares) for a +3.8% two-day gain, and FXI (China 'H' Shares) for a two-day +6.3% gain! Those kinds of percentage gains are unsustainable, in my opinion.
I'll send you an email, David.
I replied to your email -- check it out.
DeleteBought more NMM at $1.9 and placed a sell limit at $2.0
ReplyDeleteWith front month VIX futures at 17, the easy money on VXX puts has been made. Just closed at $12.60 the puts I purchased at $9.40 on Tuesday.
ReplyDeleteI plan to close VTWSX (world index) at the close for a two-day gain of +2.64%. I'm betting against a 'V' back to the January highs. Although I believe the February 8 lows will hold, I just don't think there's been enough panic to justify much more upside without further retests.
ReplyDeleteThis AKS is one kind of a monkey! It drops 30% in October only to make it back in a couple of months (giving me one nice chance to buy the dip and then scale out). Then it drops 25% *again* in January, only to make it up in 5 days!!! Today, it hit my sell limit at $5.5 for the shares I purchased at $5.05 last Monday. Also, I just sold my remaining shares at $5.98, which I purchased around $5.50 in the Fall. It was a great trading vehicle for me! Maybe we'll see a $5 price again soon, and I'll start reloading it again! :)
ReplyDeleteWith inflation on the rise, I think every dip in GDX is a buy. So I just repurchased at $0.44 the GDX covered calls I sold a couple of days ago at $0.80. Will sell them again when GDX rises above $23 again. :)
ReplyDeleteIn case oil takes another dip now (hey, anything can happen), placed a buy limit order for more ROYT at $2.05. At that price, it would be giving a 10% dividend yield plus a great capital appreciation potential...
ReplyDeleteTraders are anticipating a pullback in SPY and VXX is *already* up because of that. So I figured I would re-enter VXX puts. Just bought May $50 ones at $12.31.
ReplyDeleteGDX (miners) currently off another -2.7%. As we all know, a high-probability pattern is never a sure bet. The portfolio will take a -0.68% hit. I plan to close RYPMX (Rydex Precious Metals) end of day.
ReplyDeleteOn the other hand, both VT (world index) and VTI (US index) are off -1%. That keeps me about +3% above my benchmarks.
The DJIA is off -320 points to 24900, the SPX -0.8% to 2710. EEM (emerging markets) -1.62%. FXI (China 'H' Shares) and ASHR (China 'A' Shares) both off -2.1%.
Looks like the recent pullback in the Baltic Dry Index is over, but NMM is still being held down by the arbitrage with their new share offering at $1.90, which ends today. Soon after that, I expect NMM to start rebounding, especially if BDI keeps moving up. So I have cancelled my sell limit at $2 (for the shares purchased at 1.90) and instead added these shares to the sell limits I have at $2.1 and $2.2.
ReplyDeleteThe DJIA currently +150 points, well off its intraday high.
ReplyDeleteVT (world index) now 75.05, and should it close here would place the ETF around January 2 levels. I last exited VTWSX (the fund equivalent) on February 15 around +1% higher. I plan to reopen the position at today's close. My thinking is that (a) the consensus view is for a retest of the lows, and the market rarely accommodates the consensus, (b) thus upside risk outweighs downside risk, and (c) I've already locked in a +4% differential relative to my benchmark.
"upside risk outweighs downside risk" -- great intuition, 2nd_ave! I thought so too, and that's why I reloaded my VXX puts a couple of days ago...
DeleteLooking at the 6-month chart of BTE, its decline has flattened out. Comparing BTE and XOP with the 6-month chart of USO, we see that XOP is greatly lagging behind. If oil continues its rebound, XOP will surely follow, and BTE will explode. Just placed a buy stop limit order for more BTE at $2.63/$2.65
ReplyDeleteThe order was triggered at $2.63. Placed a sell limit at $2.75.
DeleteIndexes in Asia and Europe continued to climb Monday morning.
ReplyDeleteHowever, my sense is that the short-term outlook is now negative. Long-term? I still think DJIA 29,000 + SPX 3100 are reasonable targets for 2018.
FXI (China 'H' Shares), ASHR (China 'A' Shares), and BABA (Alibaba) taken off pre-market for +2% to +3% two-day gains.
BTE hit my sell limit at $2.75 for the shares I added at $2.63 on Friday. I need to start reducing my total energy position, since I stepped heavily into margin buying things at the bottom of the recent sharp energy pullback. Placed more sell limits on BTE at $2.85, and then at $3.00.
ReplyDeleteDJIA +383 points (+1.52). SPX +30 points (+1%) to 2778.
ReplyDeleteVT (world index) +0.84%. If it closes at current levels, that would mark a +2.2% gain in two days.
I'm not really sure why the rally feels 'off.' Maybe the low volumes last Friday and today.
I plan to close VTWSX (Vanguard world index) end of day.
Good intuition once again!
DeleteJust bought more May $50 puts on VXX at $12.50.
ReplyDeleteJust sold some April $15 puts on XES at $.80. It is close now to its 1-year low...
ReplyDeleteLate post.
ReplyDeleteWith thirty minutes left in the regular session, sell programs have kicked in. DJIA -222 points (-0.81%), SPX -14 to 2730 (-0.51%). US indexes now off -2% from Monday's highs.
EEM (emerging markets) and ASHR (China 'A' Shares) -4% from Monday's highs, FXI (China 'H' Shares) almost -6% off Monday's highs.
It may take another percentage point or two to find a low, but that often unfolds in the overnight futures market.
The above declines are 'good enough' in my opinion to reopen at least partial positions, including VTWSX (world index) + VEIEX (emerging markets) at the close.
Placed a buy limit order for more May $50 VXX puts at $10, in case the drop that 2nd_ave is expecting occurs early in the morning...
ReplyDeleteThis buy order was triggered earlier today
DeleteBTE is, once again, pretty low. Placed a buy stop limit on it at $2.52/$2.55.
ReplyDeleteThe 'Donald' not backing off on trade war rhetoric. Global indexes continue to pull back.
ReplyDeleteEEM (emerging markets) 47.40. FXI (China 'H' Shares) 46.50. BABA (Alibaba) 177.80. All being offered at December 29 prices (on the other hand, all at premiums to early February lows). I think they're all buys here.
Now all in.
So you don't think that a trade war will happen? Or are you looking just a day or two ahead?
DeleteI'm not sure, David. Things change on a day-today basis for me. But four consecutive down days for the DJIA + today's solid reversal off the lows leaves me feeling pretty confident we've taken care of all unfinished business on the downside for at least a couple of weeks.
ReplyDeleteNow +5.8% relative to my benchmark (VTWSX).
My buy stop limit on BTE was triggered this morning at 2.49. Since I have designated BTE as my trading vehicle, I I decided just now to sell it at 2.65. That's a decent profit for one morning while I was sleeping. :)
ReplyDeleteSold my BTE way too early yesterday. But maybe that's why it has jumped today -- the market Gods wanted to prove me stupid. :)
ReplyDeleteBut they did not know that I had two other sell limit orders on BTE: at 2.85, which was triggered this morning at 2.98 and at 3.00, which was also triggered this morning. I felt left out for a little while, but just now I noticed BTE trading at 2.85, and so I reloaded part of the shares that were sold this morning. As expected, BTE posted its first profit in a long time with oil prices at 60, and I think it will keep doing well, as I think oil prices will go up a little more.
Placed another buy limit at $2.75.
DeleteDJIA futures -450+ points.
ReplyDeleteMy take is that tariffs are such a bad idea that the White House will make a 'U.'
I also see too many over-confident bears making proclamations.
I'll go out on a limb and say the whole thing blows over in 24 hours.
Right one the money! SPY finished flat today, and VIX finished down.
DeleteMy buy limit order on BTE was triggered this morning at $2.75. Placed a sell limit at $3.
ReplyDeleteMy sell limit order on NMM was finally triggered this morning at $2.10 for the shares I purchased at $1.90. Placed a buy limit at $2.00 to replace these shares.
ReplyDeleteI'm planning to close all positions end of day. The only reason I can come up with is a sense of distrust. Yesterday's selloff/recovery just didn't seem like the real deal to me.
ReplyDelete2nd_ave, the 5-day chart of SPY is a steady sequence of higher lows and higher highs -- what is there not to like about it?
Delete"As promised, President Trump will impose tariffs on steel and aluminum imports, starting March 22. But Trump has made significant concessions, in response to protests from some of America’s key trading partners."
ReplyDelete2nd_ave, just like you had predicted. Maybe there is a good reason for today's green close? Maybe there will be more to come?
BTE hit my sell limit at $3 for the shares I reloaded at $2.75 on Wed.
ReplyDeleteNow my hands are itching to start taking profits on my VXX puts. But then, VIX futures have just entered a proper contango today, and if no new problems occur, VXX will start melting away on its own pretty fast now...
ReplyDeleteSeeing BTE at $2.91, I wanted to reload it, but then decided that I would rather buy ROYT, which is a much lower risk stock that is also paying nice dividends! So I have just added to my ROYT position at $2.18.
ReplyDeleteROYT has recently announced a $0.04 dividend to be paid to shareholders on record as of March 12 for the money they made in January. That's a $0.48 dividend annualized, 22% relative to its current price of $2.18! Can't pass on this opportunity...
DeleteNow that I have bought more ROYT, I once again have more margin debt than I want to. So I'll start reducing it by selling XOP, which I was buying actively a few weeks ago during the market crash. Just placed a sell limit at $35.80 for the last bunch of shares I purchased at $31.80. I think XOP will get there next week, as its 1-month chart is a beauty...
ReplyDeleteIt turns out you were right, David.
ReplyDeleteWrong call. DJIA +400 points.
As of last night, I was ahead of my benchmarks by +5.75%. It’s generally pretty hard to beat the market, so it was just a matter of time before the market started making up lost ground. Based on current pricing for VT, the market will have sliced at least a percentage point off my lead.
If I’m going to be wrong, then having a ‘buffer’ is about the only way to buy into this rally. Reopening VTWSX (world index) at the close.
Today’s action is in fact not a bad scenario for someone leaning bullish. The bull case can be summarized as follows:
(a) In my opinion, the current bull began in January/February 2016. It’s misleading for the media to refer to it as an aging bull.
(b) Bloomberg now estimates earnings growth of 26.2% over the next twelve months. Is valuation really a problem? I don't think so.
Looks like SPY will close today just above its Feb 26 closing high, making it the highest close since the bottom of the crash. Will it lead to further gains next week? Probably so...
ReplyDeleteI made several more purchases of ROYT today: at $2.19 and at $2.21, bringing it up to 20% of my portfolio. I should have probably also sold some other positions and moved that money into ROYT, making it 50% of my portfolio. I think its capital appreciation plus dividend yield will total 50 to 100% over the next year.
ReplyDeleteCrude oil futures are making a wedge:
ReplyDeletehttps://www.finviz.com/futures_charts.ashx?t=QA&p=d1
https://www.finviz.com/futures_charts.ashx?t=QA&p=h1
The direction in which this wedge is broken will likely persist for a while...
1-month intraday and 6-month daily charts of XOP give me a distinct feeling that it is ready to break out. It is UP today despite oil being down 1%. Apparently, stock traders are expecting the wedge in oil prices to break out to the upside...
ReplyDeleteThe tension among the oil traders is building up. The spike and dump around 10am EST today shook off many positions both hands. Crude oil futures are still right in the middle of the wedge formation:
ReplyDeletehttps://www.finviz.com/futures_charts.ashx?t=QA&p=h1
Tomorrow's storage report will probably mark the breakout point...
The three-day decline is a pretty good setup for a rally, in my opinion. The pitch is on its way. It's up to the markets whether to swing for the fences.
ReplyDeleteMy positions held up relatively well during the recent selloff in US indexes. VT (world index), FXI (China 'H' Shares), RSX (Russia), and BABA (Alibaba) retreated at best to opening basis points.
Speaking of BABA (Alibaba)-> it's up +4% to 200 in early trading on plans to list the stock on exchanges in China.
Oil is trying to frustrate all traders and is not picking a direction yet. But the pullback in SPY seems to be over, and I decided to use today's drop in XES to buy some shares at $14.95.
ReplyDeleteThe rally attempt leaves much to be desired. Unless things turn around in a big way, I plan to close all positions end of day. I've already taken BABA, RSX, and FXI off the table.
ReplyDelete2nd_ave, if we look at the 6-month chart of SPY, then as long as it makes higher highs and higher lows since the crash low, the bull market is in place. The recent pullback has not even retraced quarter of the gains since the previous low on March 2. In fact, SPY can pull back to March 7 low and the chart will still look good. Having said that, I don't think SPY will pull back that much, since everyone is waiting for a chance to buy at those levels.
DeleteVIX finished down today after several days of increases. This is probably a sign that worries are dissipating and we might rally tomorrow.
DeleteToday's jump in oil might be the start of a rally I've been waiting for. In order to increase the chances of this being true, I just sold at $15.30 the XES shares I purchased yesterday at $14.95. Now the market Gods will want to make me feel stupid for selling and will continue rallying the oil higher. :) But I still have too many oil related positions that I acquired during the crash on margin and I will welcome more chances to sell them into this rally...
ReplyDelete