The assassination of Benazir Bhutto coincides with the day that the stock market decides to pull back, that is what I think. Nothing to analysis. See the chart of Dow today as highlighted in green ovals. The Dow has been trending down and just completed a lower high.
As a result I followed a very smart man's swift action, I closed 6 out of 8 of my long stocks today, leaving CMI and RCI only open.
AAPL, nice
POT, very nice
MON, nice
NOV, OK
FSTR, OK
LKQX, nice
DRQ, lost the commission!
anyway, the lesson I have learned on this ride is: "Follow the leader, because I can't be the leader" The market is a fast moving train, we are forced to go in the same direction as it moved.
At the same time, I saw there are opportunities for some Puts:
FCX, love it, my fast moving noble steed.
stop at 107.50
1st target at 95,
2nd target at 85
HOT <--boy have I been watching you long! stop at 47 target at 40
MS
stop at 55.50
target at 47.50
No comments:
Post a Comment