AS you all know the FED cut rates by 50 basis points. AND boy, did the markets rally? ACROSS THE BOARD -stocks, commodities, bonds... all rallied. OVERSEAS will rally tonite. This is nirvana.
I AM A SELLER into the rally. Not that it does not continue. But best time to raise cash is now. Besides as the relief came all my targets are met on the dot- DOW 13600, NASDAQ 2530 and S&P 1500...
HOUSING and FINANCE stocks rallied- did I say we had touched the bottom. If only more bulls and bears heeded my advice. Never a bull or a bear will I be named- I am fine as the elephant who watches and acts cautiously. Sometimes all it does is raise its trunk and say VOILAHOO-A.
So long as I need a much deserved break after having said it all before it happened... Laughing all the way, counting the money we made in the trades will take all evening. So stay tuned for the next move.
I dare say it will still be up. Market and media will start talkin of new highs- so fast they forget the subprime fears and the R-word- yup, recession. Where'd that go?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment