Slope of Hope Blog Posts
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What a day. Incredible!
The only two bright spots in my day were (a) wonderful gains in my IRA, which is entirely comprised of crummy little penny stocks; (b) the longs in my big account, which saved my butt.
My IRA is at a new record high (even after suffering some FAZ damage before it was stopped out) and my big account stayed flat, but my two "all short" accounts suffered horribly. All in all, I'm down about 9% from my lifetime portfolio peak. Not devastating, but not worth celebrating either.
I'm going to ski. I will do a post later. But I need a break from charts and 55 point moves in the S&P!!!
Not to make everyone think I've gone uber-bullish, but on a day like this, I'd rather focus on the good stuff! My IRA has 27 long positions; one of them is FAZ, which isn't really bullish, but the other 26 are. Here are some favorites:
With the theme of, "if you can't beat 'em, join 'em", I offer up another bullish suggestion.
I am pretty happy with my longs, even with the big push up today, so I'm hanging on to all of them. I am adding these, with these respective stops.
Not a good day for me so far! The enthusiasm for the Geithner plan is running rampant, and the /ES is threatening the 800 level again. I'm actually going to buy about ten good-looking longs, but on a day like this, short opportunities are sometimes better "buys" at these elevated levels. Here are a few ideas. (Side note: being on vacation this week, posts will be less frequent).