As we start calming down this week, and hopefully we don't violate that last low.... or our target is mid 1450 roughly.
Emotionally I'm still fairly wrecked from the past few weeks, but I'm starting to refill emotionally... Full disclosure... I'd love to see another follow through day on today.. like 100-150 pts tomorrow.
Admittitly sell the fed, has worked twice... but my mantra is... once something works twice.. look for it to fail the third time.. at least to perform differently.
I was tempted about buying McDonald's today... good looking bear run...
I keep hearing about the "consumer non cyclicals is dead" .... I find this trade to be "going long" when the market is going down.... IE... it's a way to go short .... only your going long. as long as the market is going up... the safety players will be rolling out of JnJ and into other stuff.... but when the market turns back down... I expect this trade to be alive again.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Monday, January 28, 2008
Bear runs in everything
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