Getting Ready To Be Long Regardless If I Get Whipsawed

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July 16, 2009

I’m getting ready to get long even though I think there is a high chance of getting shalacked next week.

I’ll be buying down days.

I took losses on my EDZ, EEV, SRS, and TYP in the variety of -15%, -12%, -17%, and -22%. These were mostly fresh positions. Index funds also had about a 15% loss, but those are basically giving up what I gained. Here is a chart of that.

spx

I know it seems late, but the market charts are potentially setting up to be a serious bull market here, and only with this weeks price action does that become evident. Of course a rollover breaking the Head and Shoulders pattern to the downside will mark another fork in the road that would mean short. However, now the market is in bull mode.

Check charts of QCOM, CSCO, SNDK, all big cap OLD TECH bulls. They all look good.


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  • dorciawellington

    Hi!
    I came across your blog (http://www.stockrake.com/) while I was going through some finance blogs. You have shared with us very valuable information, I must say..
    Being impressed with your blog content, I would like to place your blog link in my finance related website/blog. If you allow me to do so and give me an opportunity to show my blog/website to you for link exchange purpose, then kindly contact me at: dorcia.wellington[at]gmail.com.

    Regards,
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