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Short Sold QQQQ

Be careful, and don’t be long this market are my thoughts.  I cashed in my long position on a QQQQ  I went long based on the oversold condition and hoping the British Central bank would lower rates.  They cited fear of inflation as the reason for not doing so.  Not a perfect exit near the low on the open this morning the QQQQ’s.   Then I resumed my short position as the market came close to neutral on the day. Bill Seidman the guy who fixed the savings and loan crisis in the 1980’s was just on CNBC saying the current situation has similarities to that of the 1980’s.  Bill was concerned if the consumer realizes things are getting bad they may tighten up and make the situation worse. That should surely fuel the fire as more investors wake up to reality. With economy weaknening, defaults risings, credit tightening, and the stock market being a forward indicator I will continue to go in and out the market shorting the market.   The trend is lower. (I giving back my profits on this one)

I should have waited to catch a pop in the market.  With alot of people selling or buying you know there is going to be alot of volatility.  So try to buy low and sell hi. (talking to myself on this one…lol)  with a Crashing the stock market is the easiest way the rich can protect their buying power in a weak economy. Its going to get worse in my view.

January 10, 2008 - Posted by | Uncategorized | , , , , , ,

1 Comment »

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