Friday, August 27, 2010

Please, please let this be a suckers bounce......

 I am still long my SDS position from 8/25/10. I am in the hole nearly $400. Im sticking with the position but I am really not sure if I should.

Here is what baffles me about the market…. Why are we rallying nearly 200 points today? GDP revised DOWN to 1.6% (which is awful). INTC lowers 3rd quarter guidance. Bernanke confirms we are slowing and housing market is popping…. But we RALLY?

Days like today make me NOT want to trade and just stick to long term investments. The Market should be tanking yet we have a huge rally.

I’m going to marinate some ice cubes and get back at it on Monday. Im keeping this position over the weekend.

Wish me luck (unless you’re long!.

Best,

CM
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