Discuss Market Comments 09/17

Market Commentary for 09/17/10 - Sideways

Current Daily Market Commentary


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[Cortez]

S&P 1130 is the line in the sand for an explosive breakout. But with TSP and associated limits, I think the best strategy is to enter 50% into this consolidation and have a mental exit of a break of 1090. Enter other 50% after after break of 1130 is confirmed.

 

[tsptalk]

Good plan, although you are a little more brave than I am using 1090 as a stop. I'd chicken out earlier.

 

[dannyboy]

[URL]http://finance.yahoo.com/banki...-lining-up-for-a-bull-market?mod=bb-budgeting[/url]
I am sorry (for now) that I bailed, G-100%(3rd IFT), but with all the nay-sayers spooking me with their gloom and doom scenarioes, Hindenberg?, death cross, etc. I had to do something, for all the messages on the board were pretty much all negative?
I hoped that I could jump up several dozen spots on the tracker, during the second half recession? I hope the markets don't get too overheated before Oct. 1, but we'll see? I'm paying for a quick and violent W.S.Crash.

 

[tsptalk]

I'm paying for a quick and violent W.S.Crash.

Is that, "paying" or "praying"?

 

[Cortez]

Good plan, although you are a little more brave than I am using 1090 as a stop. I'd chicken out earlier.

I went in 30% on Aug 27th so 1090 would actually be giving back about 1/2 my gains since then. If the mental stop is too tight you will invariably get knocked out only to see it run the other way over the next few weeks. On a macro level, nearly every government in the world is doing everything possible to weaken their currencies, which eventually will force people to move from cash into assets (already happened to an extent i.e. bonds)

 

[Cortez]

[URL]http://finance.yahoo.com/banki...-lining-up-for-a-bull-market?mod=bb-budgeting[/url]
I am sorry (for now) that I bailed, G-100%(3rd IFT), but with all the nay-sayers spooking me with their gloom and doom scenarioes, Hindenberg?, death cross, etc. I had to do something, for all the messages on the board were pretty much all negative?
I hoped that I could jump up several dozen spots on the tracker, during the second half recession? I hope the markets don't get too overheated before Oct. 1, but we'll see? I'm paying for a quick and violent W.S.Crash.

"paying for a quick and violent W.S.Crash"?
So you bought out of the money puts?