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Msg  655 of 656  at  3/15/2011 8:47:18 PM  by


 In response to msg 654 by  Shotgun
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Re: This to shall pass

 I am mostly a swing trader, relying heavily on the charts.
I do not hold  longer than the charts will let me, sometimes the big money is made by letting your winners run.
 AAPL, NFLX, were a couple I held for a few months.
Bought a little POT, SLB AAPL early today.
Posting here was taking up too much of my time, and just stopped in to see who was still around on the old boards.  I will probably go away for awhile again, until some other momentous day.
 This market is one for the books. We have been hit with $110 oil, downgrades in Spain, week jobs, Tsunami’s, earthquakes, floods, nuclear meltdowns and the S&P closed down a mere one percent. Japan was taken apart overnight, about 10%, yes 10%. The Japan ETF, EWJ, was murdered at the open, but from bottom to top it had almost a 10% rally today. Good for Japan.
Are we out of the woods? I don’t know. I will tell you that if this fire in Japan gets put out, we go higher short term, but the bloom was coming off the rose before Japan, so we’ll have to see. Many got short and unless we revisit today’s S&P lows (which stopped almost to the penny on the 100 day moving average) we may get a continuation of today’s rally.
I was getting bearish before Japan, and was short.  Covered  shorts into the bloodbath for great gains, held a few longs, and then went more long on the turn. It was great day.
Good trading and be careful.   The risk trade wasn’t just taken off, it was dragged through the streets and shot , eerily reminiscent, to me anyway, of the 2008 crash/de-leveraging, which I call the great unwind.

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