10/5/2008 6:57:16 PM
Hello Everybody
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Trade Actions:
Buy SKF (Market Vectors UltraShort Financials ) @ the Market
Market Outlook/Potential Opportunities:
If President Bush says that the Stock Market lost a trillion dollars because the bill did not pass, but within two days it recovered, then according to his logic we also lost a trillion dollars because the bill did pass. So according to Bush's logic and math, the bailout really cost us 1.7 trillion dollars.
The stock market is very feeble right now. It appears ready to roll down hard or just grind lower. Even though people use the VIX as a gauge of fear, I use a different method. As a part time daytrader in the e mini S & P, I get frustrated when I play a range breakdown with no follow through. That tells me there is truly not enough fear. Friday afternoon was a range breakdown that finally followed through. Friday represents the first day in quite awhile that we had some fear. And that fear is that the shape of America as we know it has forever changed. There will be rallies but there is not the true fear that will send us into a new bull market.
Current Long Portfolio:
Long GAZ Natural Gas @ 45 | It closed at 43 |
Long PSQ (Ultra Short Nasq ) @ 61 | It closed at 71.48 |
Long AGA ( Ultra Short Agriculture) @ 29.5 | It closed at 40.13 |
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Thank You
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