Safehaven | They Hit Our Bait On Our Profits

October 12, 2008

They Hit Our Bait On Our Profits
by Bill West

10/12/2008 8:34:09 PM

Hello Everybody

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Trade Actions:
None

Market Outlook/Potential Opportunities:

The stock market is approaching a tradable bottom. I tossed out some extended prices on our profitable positions hoping the market would hit the bait. Sure enough the bait was swallowed and we landed great profits during this crash. Time will tell if we should have held out for more. I expect a little couple of day rally followed by one more collapse and then a more extended rally. Maybe on the next move down toward the later part of this month we will get long.

Current Long Portfolio:

Long GAZ Natural Gas @ 45		It closed at 39.18
Long GLD (Gold) @ 89.90		It closed at 83.22

Current Short Portfolio:
None

Recently Closed Positions

Long PSQ (Ultra Short Nasq) @ 61		It closed at 84
Long AGA (Ultra Short Agriculture) @ 29.5		It closed at 43
SKF (UltraShort Financials) @ 119		It closed at 200

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Thank You

If you want to contact me send me an e mail bill@stockbarometer.com.

Bill West
Fat Pitch ETF Advisory

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